Intrum Justitia strengthens its bank financing

Intrum Justitia has renegotiated parts of the Group’s bank financing. The main changes are summarized below: 

• The current syndicated loan facility of SEK 4 billion is extended with a three-year facility of SEK 1 billion that matures in 2015. The new bank loan, like the existing one, is a revolving credit facility, on market terms with regard to borrowing costs and, in other regards, on the same terms as the existing loan facility. Intrum Justitia thus has confirmed bank loans totaling SEK 5 billion, of which SEK 1.6 billion had been utilized as per March 31, 2012. 
 
• The maturity structure of the existing loan facility of SEK 4 billion has been adjusted from maturing in its entirety in 2016, to SEK 1 billion maturing in 2015, SEK 2 billion in 2016 and SEK 1 billion in 2017. In addition, Intrum Justitia has a bond loan of SEK 1 billion that matures in 2017, meaning that the Group’s maturity structure for confirmed bank loans and bond loans is evenly distributed with SEK 2 billion maturing in each of the years 2015, 2016 and 2017. 
 
• The earlier loan facility entailed a limit on the long-term loan financing Intrum Justitia could raise of SEK 6 billion. The new loan agreements allow the Group to raise long-term financing of SEK 8 billion. 
 

Consequently, Intrum Justitia’s total long-term loan financing consists of confirmed loan facilities from banks of SEK 5 billion, a bond loan of SEK 1 billion within the framework of an MTN program of up to SEK 3 billion. Furthermore the Group has the possibility to raise short-term financing through a commercial paper program of up to SEK 1.5 billion.

 “Through our new bank agreement, we have improved the structure of the Group’s long-term borrowing considerably. Combined with our bond program, we now have a more extensive and flexible financial capacity, with an even and well-distributed maturity structure,” says Erik Forsberg, CFO at Intrum Justitia.

For further information, please contact:

Erik Forsberg, CFO
Tel: 46 8 546 102 00

Annika Billberg, IR & Communications Director
Tel: 46 8 546 102 03
Mobile: 46 702 67 97 91
E-mail: a.billberg@intrum.com

Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia was founded in 1923, has around 3,100 employees in 22 countries and revenues of approximately SEK 3.8 billion in 2010. Intrum Justitia AB is listed on NASDAQ OMX Stockholm since 2002. For further information, please visit www.intrum.com