The crisis-stricken credit management company Intrum has received the green light regarding the recapitalization transaction. In a press release, the company writes that it has received support from more than 66.7 percent of bondholders and calls it "a decisive milestone".
"Intrum is convinced that the terms of the recapitalization transaction provide the best possible outcome for all stakeholders by creating a robust capital structure that will support long-term sustainable growth without affecting the company's customer relationships, operations, suppliers, or employees", the company writes in the press release.
Intrum has been one of the major losers on the Stockholm Stock Exchange over the past two years and has been listed for a decline of nearly 38 percent since the turn of the year. The debt collection company has itself incurred large debts and, as a result, has received downgraded credit ratings from rating institutes, as well as having to sell off a large part of its investment portfolio.
