Cerberus Mulls Bigger Intrum Partnership as Company Tackles Debt

-- Cerberus Capital Management LP and Intrum AB are considering a more extensive partnership as the Swedish debt collector explores options to address its borrowings.Powell Reiterates Fed Doesn’t Need to Be In Hurry to Cut RatesSBF’s Best Friends Who Turned on Him Brace for Their Punishment

Representatives of Cerberus and Intrum weren’t immediately available to comment outside of normal business hours.Cerberus is one of the world’s biggest investors in non-performing loans and has been active in several European markets, including Italy, Spain and Cyprus. Rubio also said the company may announce capital partnerships later this year that could have a “quite dramatic” impact on its finances.In the meantime, creditors have organized in two groups. Some holders of the bonds due in 2024 and 2025 have picked Weil, Gotshal & Manges LLP and Lazard Inc. as advisers, while Latham & Watkins and PJT Partners Inc are advising a separate group holding about 40% of Intrum’s notes.

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Cerberus Mulls Bigger Intrum Partnership as Company Tackles DebtCerberus Capital Management LP and Intrum AB are considering a more extensive partnership as the Swedish debt collector explores options to address its borrowings.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Intrum Creditors Split, With a Group Picking Weil for Debt TalksBondholders of Intrum AB who considered teaming up for debt talks with the Swedish company have split into different groups given the varied interests of the investors depending on the maturities of the notes they hold, according to people familiar with the matter.
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Debt Collector Intrum Says It Has Cash to Pay Looming MaturitiesOne of Europe’s biggest debt collectors, Intrum AB, said talks with creditors will kick off in the coming weeks as it seeks to manage its debt burden.
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