Intrum CEO aims to complete debt restructuring in second quarter of 2025

Intrum AB

22/01/2025 15:44

OSLO, Jan 22 (Reuters) - Sweden's Intrum  INTRUM.ST ,
Europe's biggest debt collector, expects to complete its own
debt restructuring process in the second quarter of 2025, the
company's CEO said on Tuesday.
    Hit by soaring interest rates and tight credit markets,
Intrum in November filed for Chapter 11 bankruptcy in the United
States in a bid to restructure its debt, which reached 49.4
billion Swedish crowns ($4.50 billion) at the end of September.
    The restructuring plan was later approved by a judge in the
U.S. state of Texas, the company said on Dec. 31, although some
creditors opposed the scheme and are appealing the court's
decision.
    A Swedish court restructuring was launched earlier this
month and creditors will be asked to vote on the proposed
solution in March, the company told investors on Tuesday.
    "We expect to be successful," CEO Andres Rubio said during a
presentation of the company's plan.
    Intrum's share price fell 3.4% by 1531 GMT. It is down by
more than 90% since mid-2021.
    
($1 = 10.9878 Swedish crowns)

 (Reporting by Terje Solsvik, editing Stine Jacobsen)
 ((stine.jacobsen@thomsonreuters.com; +45 2156 90 10;))