Axactor enters into one of the largest NPL forward flow contracts in the Nordics
Oslo, April 17th, 2018
Axactor has successfully negotiated one of the largest unsecured NPL forward flow contracts in the Nordics. The claims are originated by Komplett Bank in Norway and the contract has a duration of 18 months, plus an option to extend for a further 6 months. This contract is expected to generate an annual capex of circa 60 mEUR per annum when fully operational. The contract represents Axactor's largest forward flow acquisition to date and when combined with other transactions across the group, will secure significant revenue growth, especially in Axactor's unsecured receivables.
"This portfolio reinforces Axactor's commitment to increasing the footprint in the Norwegian market and we appreciate the confidence Komplett Bank has shown Axactor in granting us the contract. I am especially pleased to see an increase in unsecured transactions coming through, it is further evidence that the Axactor team are focusing heavily on securing significant growth in 2018 and beyond ", says Endre Rangnes, Axactor
"The Axactor team in Norway is delighted to close this transactions with Komplett Bank, a substantial player in the Nordic market . We have invested significant time and resources into building an organization to handle NPL claims in Norway. This transaction demonstrates Axactor's ability to close key large portfolio purchases in the Nordics.", says Oddgeir Hansen acting Country Manager Norway.
This investment will be financed by Axactor's available cash and our existing credit facilities.
For additional information, please contact:
Johnny Tsolis, SVP Business Development Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com
About Axactor
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has
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Nordic Diamonds Ltd
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CODE : NDL.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nordic is a diamonds exploration company based in Canada. Nordic holds various exploration projects in Canada and in Sweden. Its main exploration properties are MACKAY LAKE in Canada and SOLVBACKTJARN and BOTTENBACKEN in Sweden. Nordic is listed in Canada and in United States of America. Its market capitalisation is CA$ 519 630 as of today (US$ 517 915, € 369 015). Its stock quote reached its highest recent level on December 30, 2004 at CA$ 0.85, and its lowest recent point on June 10, 2009 at CA$ 0.01. Nordic has 51 963 000 shares outstanding. |