The credit management company Intrum has entered into a binding agreement with a majority of its bondholders, the company announces in a press release.
"After evaluating all alternatives for strengthening its financial profile and capacity for continued growth, the company believes that the lock-up agreement and the agreed terms for the recapitalization transaction are the right way to significantly improve and strengthen the company's capital structure", the company writes in the press release.
The pressured company reports that the agreement makes it possible for a "significant reduction" of indebtedness.
Last week, Intrum announced that it had completed the sale of a large part of its investment portfolio to subsidiaries of Cerberus Capital and thereby brought in 7.2 billion kronor in net liquidity.
