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
ir@intrum.com