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DDM Holding AG
DDM Debt AB
DDM Treasury Sweden AB
DDM Debt completes Greek milestone transaction, doubling its Estimated Remaining Collections
DDM Debt AB (Nasdaq Stockholm: DDM2) announces that it has completed a milestone transaction in Greece. The total investment amounts to approximately EUR 50 million with Gross Estimated Remaining Collections (”ERC”) from the transaction exceeding EUR 100 million. The transaction will thereby more than double DDM Debt’s ERC at the end of the second quarter 2017.
The large underlying portfolio consists of secured and unsecured retail and corporate receivables and has a nominal value of about EUR 1.3 billion.
This is one of the first and largest transactions in the Greek non-performing loan (“NPL”) market, and allows DDM to establish a first mover advantage in the country with the highest non-performing loan ratio in Europe. The Greek NPL volume is estimated to be greater than EUR 130 billion, and is expected to offer significant opportunities in the coming years. The transaction also includes one of the very few servicing licenses in Greece, offering great potential for future transactions.
Gustav Hultgren, CEO of DDM, commented: “I am very happy to have completed our first transaction in Greece, establishing a first mover advantage in the country with the highest non-performing loan ratio in Europe. The acquisition not only contributes significantly to DDM’s growth but also offers strong potential for further transactions in Greece.”
This is information which DDM Debt AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 a.m. CET on 8 August 2017.