AIK: Aktiv Kapital has renegotiated the multi-currency credit facility

Aktiv Kapital ASA has successfully amended the loan agreement with the existing banking syndicate.

 

The loan agreement had at time of initiation in 2006 a duration until June 2011, which has not been altered.

The amortization of the loan has been restructured to be in line with the current cash flow from existing portfolios.

 

The upper limit of the credit facility has been reduced from NOK 3 850 million to NOK 3 000 million. The current net interest-bearing debt as of today is NOK 2 440 million and is expected to be reduced below NOK 1 500 million within twelve months if no new material portfolios are acquired.

 

The margin for the loan has been renegotiated in line with current market terms.

 

The amended loan facility as well as the Group`s liquidity situation gives a good basis for continued reduction of the net interest-bearing debt as well as selected growth through portfolio acquisitions.

 

Aktiv Kapital had as of March 31st 2009 approximately EUR 19 500 million in accumulated acquired claims.

 

Aktiv Kapital will take a cautious approach to portfolio investments and focus on maximizing recovery on existing portfolios while awaiting attractive opportunities.

 

 

For further information, please contact:

 

CFO Scott Danielsen, tel.: +47 95 25 56 20

CEO Erik Øyno, tel.: +47 90 13 12 03