Intrum AB (“Intrum” and together with its subsidiaries, the “Group”) and its debtor affiliate are currently engaged in settlement discussions with the minority group of holders of its Notes due 2025 (the “2025 Ad Hoc Group”), who are objecting to its pre-packaged chapter 11 cases (the “Chapter 11 Cases”).
Unless given a different meaning in this release, terms defined in the press releases from July to November 2024 (the “Announcements”) have the same meaning when used here.
Pursuant to the settlement, if agreed, the 2025 Ad Hoc Group would be required to, among other things, withdraw its challenges to the Chapter 11 Cases and the pre-packaged chapter 11 plan of reorganization (together with any and all other proceedings) and to support the Group’s Recapitalisation Transaction.
The agreement remains subject in all respects to the approval of the requisite majorities of the Group’s locked-up creditors, including its RCF lenders and Noteholders.
Further details of the agreement will follow in due course.
Further information
Further details of the Chapter 11 case can be found at the following website:
https://cases.ra.kroll.com/IntrumAB
The Chapter 11 case relates to, amongst other debt instruments, the senior unsecured notes and MTNs due from 2025–2028 with the following identifiers: XS2211136168 / XS2211137059; XS2034925375 / XS2034928122; XS2052216111 / XS2052216202; XS2566292160 / XS2566291865; SE0013105533; SE0013105525; SE0013104080; SE0013360435; XS2093168115.
For further information on the Chapter 11 and/or the Recapitalisation Transaction, please contact Houlihan Lokey, who act as financial advisers to Intrum at the email addresses below.
If you experience any issues in accessing the website, please contact the Information Agent at the email address below.
Contact Details:
Kroll Issuer Services (as Information Agent): intrum@is.kroll.com
Houlihan Lokey (as advisers to Intrum): intrum@hl.com
Media Inquiries:
Brunswick Group (as advisers to Intrum)
Azadeh Varzi, Partner
Freya Semken, Director
+44 (0) 20 7404 5959
Oscar Karlsson, Partner
Hedda Söderström, Associate
+46 (8) 410 32 180
DISCLAIMERS
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained in this press release. Neither the Group nor any of its advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this press release or its contents.
This press release may include forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms as “believe”, “expect”, “anticipate”, “may”, “assume”, “plan”, “intend”, “will”, “should”, “estimate”, “risk” and or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Group’s intentions, beliefs or current expectations concerning, among other things, the Group’s plans, objectives, assumptions, expectations, prospects and beliefs and statements regarding other future events or prospects. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements reflect the Group’s current expectations, intentions or forecasts of future events, which are based on the information currently available and on assumptions made by the Group.
The forward-looking statements and information contained in this announcement are made as of the date hereof and the Group is under no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws. All subsequent written or oral forward-looking statements attributable to the Group, or persons acting on the Group’s behalf, included in but not limited to press releases, reports and other communications, are expressly qualified in their entirety by the cautionary statements contained throughout this press release.