Intrum : appoints advisors to evaluate improvements of its debt capital structure
March 14, 2024 at 06:34 am EDT
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Published: 2024-03-14 10:50:00 CET
Intrum
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Intrum appoints advisors to evaluate improvements of its debt capital structure
Press release
Stockholm
14 March 2024 10:50 CET
Intrum AB has appointed Houlihan Lokey and Milbank as advisors to assist in an evaluation of alternatives to strengthen the company's financial profile through directly addressing its debt structure.
The appointments follow Intrum's previously communicated intention to prioritise initiatives to strengthen its financial profile.
As communicated in the Q4 report, the strong performance of Intrum's underlying business continues, demonstrated by a continued growth of the Servicing business in Q4, with an all-time high volume of new contracts and several client wins. Intrum's confidence in the continued progress in this area remains.
This appointment is consistent with our ongoing balance sheet management. The mandate for the appointed advisors will include exploring refinancing and capital structure enhancing options to ensure a long-term sustainable debt structure for Intrum in line with the current business plan.
"These appointments are a proactive initiative where we will evaluate possible improvements to our balance sheet and financial profile in line with our business plan. We have a growing and highly cash-generative business. In addition, our estimated remaining collections cover nearly all of our debt. Therefore, we will take this opportunity to reshape our capital structure to align with these strengths," says Andrés Rubio, President and CEO of Intrum.
The evaluation is ongoing and Intrum will announce any progress in due course.
For further information, please contact:
Emil Folkesson, Interim CFO& Investor Relations Director
+46 70 744 69 82 ir@intrum.com
Intrum is the industry-leading provider of Credit Management Services with a presence in 20 markets in Europe. By helping companies to get paid and support people with their late payments, Intrum leads the way to a sound economy and plays a critical role in society at large.Intrum has circa 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2023, revenues amounted to SEK 20.0 billion. Intrum is headquartered in Stockholm, Sweden and publicly listed on the Nasdaq Stockholm exchange. For more information, please visitwww.intrum.com.
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Intrum AB, formerly Intrum Justitia AB, is a Sweden-based Credit Management Services (CMS) company. The Company offers services covering the entire credit management chain, ranging from prospecting and segmenting to payment management services, collection and financial services. Its offering includes credit optimization services; such as credit decisions, credit monitoring and credit information, as well as consultancy and advisory services; payment services, such as sales ledger services, reminder services and e-commerce services, as well as VAT refund services, and collection services, such as debt collection and debt surveillance services, as well as worldwide debt collection services. The Company also offers a range of solutions for different type of businesses. The Company has a number of subsidiaries based in Denmark, Italy, Lithuania, Portugal, Switzerland, and the United Kingdom, among others.
INTRUM AB 
