March 31, 2017 / 5:58 AM / 8 months ago

BRIEF-Axactor buys large unsecured non-performing loan portfolio

March 31 (Reuters) - AXACTOR AB (PUBL)

* AXACTOR ACQUIRES A LARGE UNSECURED NON-PERFORMING LOAN (NPL) PORTFOLIO

* INVESTMENTS WILL BE FINANCED BY AXACTOR‘S AVAILABLE CASH AND OUR EXISTING CREDIT FACILITIES WITH A 50/50 SPLIT OF EQUITY/DEBT

* CLOSING OF TRANSACTION IS EXPECTED TO BE 21ST APRIL.

* THIS PORTFOLIO ACQUISITION WILL INCREASE AXACTOR‘S ERC BY MORE THAN 30%

* PORTFOLIO IS ORIGINATED BY BANK NORWEGIAN IN SWEDEN

* AXACTOR AB (PUBL) - PORTFOLIO INCLUDES UNSECURED CREDIT WITH A TOTAL OUTSTANDING BALANCE (OB) OF APPROXIMATELY EUR 105 MILLION, ACROSS CLOSE TO 15,200 OPEN ACCOUNTS OF INDIVIDUAL LOANS AND CREDIT CARD DEBT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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