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Axactor acquires secured NPL Portfolio in Spain

Axactor Group

Axactor Spain has closed another transaction with a financial institution. The purchase is a secured portfolio with an unpaid balance of approximately 40mEUR, containing 276 claims with more than 300 first charge collaterals. The portfolio represents the first sale of secured credits by this financial institution in the Spanish Market. “Following a long period of focusing on unsecured NPL portfolios, Axactor is very pleased to close this small secured transaction, which originated from the same client as the recent unsecured portfolio closed in April. The transaction demonstrates Axactor is still focused on all NPL asset classes, providing our clients with solutions for all their NPL needs in addition to the usual 3PC services.” says David Martín and Andrés López, General Directors of Axactor Spain. Axactor plans to finance this acquisition by use of available cash existing credit facilities.