DDM Debt successfully restructures Greek transaction
DDM Debt AB (Nasdaq Stockholm: DDM2) announces that it has successfully restructured the Greek transaction it first entered into in August 2017. The restructuring has resulted in accelerated collections in excess of EUR 55 million and more than EUR 10 million positive impact to the net result of the third quarter.
Henrik Wennerholm, CEO of DDM, commented: “I am delighted that we have successfully restructured our investment in Greece, which is particularly impressive given the current challenging market conditions. The transaction was the first larger NPL transaction in Greece and was a landmark transaction for us. We have since then bought-out the co-investor in 2019. This not only proves the underlying credit quality of our portfolios, but also demonstrates our underwriting, portfolio management and transaction expertise in complex situations.”
The proceeds from the settlement will be used to repay debt within the DDM group and to fund further acquisitions.
This information is information which DDM Debt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out below, at 11:00 CEST on 16 September 2020.
For more information, please 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 Growth Market: DDM) is a specialized multinational investor and manager of non-performing loans and special situations. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, having acquired 2.3 million receivables with a nominal value of over EUR 4 billion.