Key terms of the recapitalisation transaction
Intrum’s financial restructuring is designed to strengthen our capital structure, reduce debt, and enable a long-term stable business. Through refinancing, and strategic adjustments, we are ensuring financial resilience while continuing to deliver value to our clients, consumers, and stakeholders.
A structured approach to financial stability
Intrum has taken decisive steps to reduce financial risk and position itself for sustainable growth. Our restructuring plan focuses on lowering debt levels, improving liquidity, and securing long-term business and financial flexibility. Key elements of this plan include:
Debt reduction and refinancing
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Noteholders to receive 10% of the ordinary shares in Intrum on a fully diluted basis, in exchange for the cancellation of 10% of their existing claims:
The transaction converts the existing senior unsecured notes into new secured instruments at a nominal amount equivalent to 90% of the nominal amount of the existing notes. The new notes will have an average tenor of 3.9 years assuming closing date in June 2025. In addition, noteholders will be issued new shares, on a pro-rata basis, for 10% of Intrum’s equity.
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RCF amendment and extension:
Intrum has renegotiated its Revolving Credit Facility (RCF), reducing the facility from €1.8 billion to €1.1 billion and extending the maturity to June 2028 with an improved security package. -
New 1.5 Lien secured notes issuance:
As part of the transaction, noteholders have committed to provide €526 million in new senior secured 1.5 lien notes, with an 8% cash coupon and maturing in December 2027, three years post-issuance. These notes provide liquidity for debt buybacks and operational needs.
