It’s only incremental for the bonds this morning. The company’s announcement of concrete details on its fully underwritten rights issue concern really only
Read More
Bonds to move to par, but not far above. Intrum announced a 2-tier rights issue this morning with a combined SEK 7.5bn Guaranteed Raise. Maturities from
Read MoreShares dropped yesterday, apparently on the news at the AGM that the company would not be paying a dividend. While we are still wondering if
Read More
We are taking the short off this morning. Following the news that Cerberus had bought Intrum’s minority stake in the JVs, we had shorted the
Read More
The Intrum Idea Pitch video is now available.
You can find them on the Sarria website landing page as well as on each individual company’s dedicated page.
We are shorting the 2027 Euro bonds at 96.75, going into the strategic review that the company is to unveil at the end of the month. Looking across to
Read MoreThe latest tender offer, at an average price of 94c/€ was entirely taken up by the €-denominated ‘27s that now have a
Read MoreWe are reading that Intrum is starting a second tender offer for its bonds this month. This time, the maximum volume is a little
Read MoreThe tender was popular. Intrum had applied a waterfall of priorities between the bonds, prioritising the front end and the
Read MoreIntrum are buying back €75m of SSNs, not in pro rata amounts between them, but instead with a waterfall of priorities at
Read More
Management will include weighing up possible further liability management in the upcoming strategic review. Q3 was soft, with
Read MoreT’is done. At 94.4c/€, bondholders tendered 10x more bonds (half the outstanding) than the €250m in play and the scaling factor was
Read MoreThe succinct message from your favourite debt collector today is as per our commentary: "Intrum has today been informed that
Read MoreIntrum have disclosed that Masih Yazdi, formerly CFO of SBB, will be joining to fulfil the same role for the freshly restructured
Read More94.4 c/€ is the price at which Intrum uses its tenders for notes from the stash provided by the New Money Notes that’s currently
Read More
Even though fundamentally this is only an incremental update - beyond the admirable cost control, we find few incremental insights - this is a major update financially. Following the conclusion
Read MoreWe’re proud to support our community and collaborate with reporters on the names we cover — always careful to keep key findings exclusive to our clients.
Sarria’s quote is reproduced below as featured in Debtwire’s latest piece: “Intrum delivers strong Servicing EBIT margin as haircut to reduce debt burden”
Read MorePresident and CEO Andres Rubio has stepped down following the conclusion of the restructuring and delivery of the Q225 results. Johan Akerblom, CFO, will be
Read More
The company this morning surprised us positively with good cost discipline. We had more than half expected that the recent central cost had been
Read More