DDM Debt secures financing for its JV in Croatia

DDM Debt AB (Nasdaq Stockholm: DDM2) announces that the group, together with its Joint Venture partner B2Holding, has secured third party financing for part of its JV in Croatia acquired in Q2 2019. DDM’s share of the gross proceeds from the financing amounts to approximately EUR 35 million. The financing is at a lower cost of borrowing than the existing senior secured bond frameworks. Repayments will be made according to an amortization schedule linked to certain cash flows from the portfolio.

Henrik Wennerholm, CEO of DDM, comments: “We are happy to have secured financing on favourable terms, and that the extensive due diligence by the financing provider confirms the portfolio quality. This enables us to invest the proceeds from the financing in future acquisitions.”

For more information, please visit DDM’s website at www.ddm-group.ch or contact: 

Henrik Wennerholm, Chief Executive Officer

Tel: +41 79 539 88 59

Fredrik Olsson, Chief Financial Officer

Tel: +41 79 331 30 17

Mail: investor@ddm-group.ch

DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a wholly owned subsidiary of DDM Holding AG. DDM Holding AG (First North: DDM) is a multinational investor in and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, and has acquired 2.3 million receivables with a nominal value of over EUR 4 billion. Arctic Securities is DDM Holding AG’s Certified Adviser (email: certifiedadviser@arctic.com, tel: +46 8 44686100).

About Us

DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a subsidiary of DDM Holding AG (First North Growth Market: DDM) a multinational investor in and manager of distressed assets, offering the prospect of attractive returns from the expanding Southern, Central and Eastern Europe market. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, and has acquired 2.3 million receivables with a nominal value of over EUR 4 billion. For sellers (banks and financial institutions), management of portfolios of distressed assets is a sensitive issue as it concerns the relationship with their customers. For these sellers, it is therefore critical that the acquirer handles the underlying individual debtors professionally, ethically and with respect. DDM has longstanding relations with sellers of distressed assets, based on trust and the Company’s status as a credible acquirer. The banking sector in Southern, Central and Eastern Europe is subject to increasingly stricter capital ratio requirements resulting in distressed assets being more expensive for banks to keep on their balance sheets. As a result, banks are increasingly looking to divest portfolios of distressed and other non-core assets. DDM Holding AG, the Parent Company, is a company incorporated and domiciled in Zug, Switzerland and listed on Nasdaq First North Growth Market in Stockholm, Sweden, since August 2014.

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