Intrum preps tap to pay down revolver

By Owen Sanderson
16 Sep 2020

Swedish debt purchaser Intrum is in the market with a tap of its 4.875% 2025 unsecured notes, issued in July, intending to use the funds to part-pay its revolving credit facility. The starting size of the tap is €200m but the company has €746m outstanding on its RCF so could easily look to increase the deal size if it receives strong demand.

Intrum already raised opportunistic funding this autumn in the Swedish krona market, issuing a dual tranche two and five year FRN on September 3 for Skr2bn (€192m) through DNB Markets, Danske and Swedbank. These funds were also used to pay down RCF drawings.

Morgan Stanley, which led the ...

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