Lowell sells swedish pools of portfolios

Lowell,  today announces it has an entered into an agreement to sell a pool of Swedish portfolios comprising around 107,000 customer accounts with total outstanding balance of approximately SEK 8.1bn to Hoist Finance AB.
Following completion of the sale, Lowell will continue to service the portfolio on behalf of Hoist Finance.
Proceeds from the sale are expected to be approximately SEK 1.2bn and will be used to partially repay drawings under the Group’s Revolving Credit Facility.
Commenting on today’s announcement Jamie Wilson, Group Chief Financial Officer, said:
“We are pleased to announce this divestment which further strengthens our relationship with Hoist Finance as one of its key servicing partners.
The transaction continues to demonstrate the Group’s ability to recycle capital and crystalise returns earlier in the investment cycle. It has enabled the Group to deliver returns ahead of pricing expectations whilst growing third-party servicing assets under management.
Proceeds from the divestment will further strengthen the Group’s cashflow and improve its liquidity position.”

Source: Lowell

Roberto Sergio

Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.

Credit Village is a leading company in the field of specialized publishing and event organization for the credit management industry and in all issues and aspects related to the NPE market, including ESG , M&A, Real Estate etc. Credit Village has been the first company in Italy to bring the culture of the credit management industry to the press, events and online, creating the largest community in the sector around itself.

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