Intrum Justitia strengthens its bank financing

Intrum Justitia AB 

14.06.2012 15:00

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Stockholm, 2012-06-14 15:00 CEST (GLOBE NEWSWIRE) -- 

Intrum Justitia has renegotiated parts of the Group's bank financing. The main
changes are summarized below: 

  -- The current syndicated loan facility of SEK 4 billion is extended with a
     three-year facility of SEK 1 billion that matures in 2015. The new bank
     loan, like the existing one, is a revolving credit facility, on market
     terms with regard to borrowing costs and, in other regards, on the same
     terms as the existing loan facility. Intrum Justitia thus has confirmed
     bank loans totaling SEK 5 billion, of which SEK 1.6 billion had been
     utilized as per March 31, 2012.
  -- The maturity structure of the existing loan facility of SEK 4 billion has
     been adjusted from maturing in its entirety in 2016, to SEK 1 billion
     maturing in 2015, SEK 2 billion in 2016 and SEK 1 billion in 2017. In
     addition, Intrum Justitia has a bond loan of SEK 1 billion that matures in
     2017, meaning that the Group's maturity structure for confirmed bank loans
     and bond loans is evenly distributed with SEK 2 billion maturing in each of
     the years 2015, 2016 and 2017.
  -- The earlier loan facility entailed a limit on the long-term loan financing
     Intrum Justitia could raise of SEK 6 billion. The new loan agreements allow
     the Group to raise long-term financing of SEK 8 billion.

Consequently, Intrum Justitia's total long-term loan financing consists of
confirmed loan facilities from banks of SEK 5 billion, a bond loan of SEK 1
billion within the framework of an MTN program of up to SEK 3 billion.
Furthermore the Group has the possibility to raise short-term financing through
a commercial paper program of up to SEK 1.5 billion. 

 'Through our new bank agreement, we have improved the structure of the Group's
long-term borrowing considerably. Combined with our bond program, we now have a
more extensive and flexible financial capacity, with an even and
well-distributed maturity structure,' says Erik Forsberg, CFO at Intrum
Justitia. 

For further information, please contact:

Erik Forsberg, CFO
Tel: +46 (0)8 - 546 103 96

Annika Billberg, IR & Communications Director
Tel: +46 (0)70-267 97 91, e-mail: a.billberg@intrum.com

Intrum Justitia is Europe's leading Credit Management Services (CMS) group,     
 offering comprehensive credit management services, including Purchased Debt,   
 designed to measurably improve clients' cash flows and long-term profitability.
 Founded in 1923, Intrum Justitia has some 3,300 employees in 20 markets.       
 Consolidated revenues amounted to SEK 4 billion in 2011. Intrum Justitia AB has
 been listed on the NASDAQ OMX Stockholm exchange since 2002. For further       
 information, please visit www.intrum.com
News Source: NASDAQ OMX



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Language:     English
Company:      Intrum Justitia AB
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0000936478
WKN:          
 
End of Announcement                             DGAP News-Service
 
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