Intrum Pays Off Part of the Debt Mountain

» Updated:

» Published:

Intrum Pays Off Part of the Debt Mountain
Photo: Christine Olsson/TT

Share this article

The financially strained debt collection company Intrum – which has lost 57 percent of its stock market value this year – has completed the sale of a large part of its investment portfolio to subsidiaries of Cerberus Capital, writes Intrum in a press release.

"The net proceeds of 7.2 billion kronor will be used in its entirety to reduce debt", writes Intrum.

The proceeds are one billion lower than earlier estimates presented by Intrum. According to the company, this is due to a later access date.

"As Intrum has generated revenue from the portfolio until completion, the total proceeds remain unchanged", writes the company.

The goal is now to bring Intrum's net debt below 49 billion kronor.

"As a result of the transaction, Intrum's investment portfolio is reduced to approximately 24 billion kronor. This exceeds Intrum's previously communicated goal of 30 billion kronor", writes Intrum.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Reach Framework Agreement on Tiktok's Future

USA and China Reach Framework Agreement on Tiktok's Future

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Stockholm Stock Exchange Stalls as Wall Street Opens

Stockholm Stock Exchange Stalls as Wall Street Opens

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans