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
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: email@example.com, tel: +46 8 44686100).