Hoist Finance AB (publ) has acquired a well-diversified portfolio of non
-performing banking claims originated by four regional Spanish banks. The
portfolio is made up of approximately 115,000 loans, of which 86,000 are
consumer unsecured loans and 29,000 are loans to small and medium-sized
enterprises (“SME loans”).
The total investment amounts to just over EUR 22 million. The Estimated
Remaining Collections ("ERC") amounts to approximately EUR 48 million over 120
months.
Najib Nathoo, Regional Director West Europe, Hoist Finance says, “We are pleased
to establish a presence in Spain, which is an important European market. This
acquisition further underlines our vision in becoming the leading debt
restructuring partner in Europe. We have invested in a broad portfolio of assets
with our robust diligence and investment standards, working with local partners
and experts who have solid experience and track records in Spain. We are excited
to be working with these partners to fully support the banking industry by
delivering the high calibre services specific to Hoist Finance.”
For further information please contact:
Michel Jonson, Group Head of Investor Relations
Telephone: +46 (0)8 555 177 19
The information above has been published pursuant to the Swedish Securities
Markets Act (Sw. lagen om värdepappersmarknaden) and/or the Swedish Financial
Instruments Trading Act (Sw. lagen om handel med finansiella instrument). This
information was released for publication at 08.30 (CET) on 17 June 2016.
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and
financial institutions, offering a broad spectrum of advanced solutions for
acquisition and management of non-performing unsecured consumer loans. Hoist
Finance operates through eleven in-house collection centers across Europe,
complemented by local external debt servicing partners. The total carrying value
of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31
December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq
Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated
“Credit Market Company” under the supervision of the Swedish Financial
Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers
internet-based savings deposit services through HoistSpar, with around 85,000
accounts.
Hoist Finance acquires its first portfolio in Spain
| Source: Hoist Finance AB