Collector signs financing agreement with large European corporate group
Gothenburg, Sweden – Collector AB (publ.) (NASDAQ Stockholm: COLL). Collector Bank has agreed on terms for a financing agreement with one of Europe´s leading retail chains regarding factoring and stock financing. The total volume amounts to SEK 1,150 million. A principle agreement has been reached and complete agreements are expected within a few weeks.
“This is the largest deal in Collector’s history and is the result of a process aimed at finding a competitive solution while minimizing risk. Collector has demonstrated its capacity to make cross-border factoring efficient in several major deals. Flexibility, efficient processes and strong systems support are key factors for these kinds of deals,” says Stefan Alexandersson, CEO of Collector.
The proposed agreement has a term of three years and begins to apply in February 2017.
For further information, please contact:
Stefan Alexandersson, CEO Collector I Phone +46 10 161 00 00 I stefan.alexandersson@collectorbank.se
Pia-Lena Olofsson, CFO & Head of IR Collector I Phone +46 10 161 00 00 I pia-lena.olofsson@collectorbank.se
Åsa Hillsten, CCO & IR Collector I Phone +46 10 161 00 00 I asa.hillsten@collectorbank.se
This information is such that Collector AB is obliged to publish in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, on 28 October 2016 at 3:00 p.m. CET. Stock exchange: Ticker symbol COLL
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