Brief: Intrum Initiates Court-Supervised Process In The U.S. To Implement Its Recapitalisation Transaction

Intrum AB

15/11/2024 20:06

Nov 15 (Reuters) - Intrum AB  INTRUM.ST :
    * INTRUM INITIATES COURT-SUPERVISED PROCESS IN THE U.S. TO
IMPLEMENT ITS RECAPITALISATION TRANSACTION HAVING RECEIVED
OVERWHELMING SUPPORT FROM CREDITORS FOR ITS PRE-PACKAGED CHAPTER
11 REORGANISATION PLAN
    * INTRUM AB - CHAPTER 11 PLAN APPROVAL FROM U.S. BANKRUPTCY
COURT
EXPECTED BEFORE END OF 2024
    * INTRUM AB - INTRUM CONTINUES TO OPERATE AS NORMAL WITH
EMPLOYEES
PROVIDING CRITICAL SERVICES FOR CLIENTS AND CUSTOMERS
    * INTRUM AB - TRANSACTION LIMITS DILUTION TO SHAREHOLDERS TO
10%
ALONG WITH 10% REDUCTION IN NOTES
    * INTRUM AB - RECAPITALISATION TRANSACTION IS EXPECTED TO
BECOME
EFFECTIVE DURING Q1 2025, FOLLOWING SATISFACTION OF ALL
CONDITIONS PRECEDENT
    * INTRUM AB - CONFIDENT IT HAS SUFFICIENT SUPPORT TO
IMPLEMENT
RECAPITALISATION TRANSACTION
    * INTRUM AB - INTRUM IS INTENDING TO COMPLETE A SWEDISH
COMPANY
REORGANISATION DURING Q1 2025
    * INTRUM AB - EXPECTS TO CONTINUE TO PAY ITS FINANCIAL
OBLIGATIONS
IN ORDINARY COURSE OF BUSINESS, WITHOUT INTERRUPTION

Source text:  ID:nMFN2HD0f8 
Further company coverage:  INTRUM.ST 

 ((Reuters.Briefs@thomsonreuters.com;))