B2Holding ASA - Invitation to fixed income investor meetings and
trading update
B2Holding ASA ("B2H") has mandated Arctic Securities, DNB Markets
and Nordea to arrange a series of fixed income investor meetings
commencing on 27 October 2017. Following the investor meetings, a
EUR denominated, senior unsecured bond issue with a five year tenor
may follow, subject to inter alia market conditions. The Company
will initiated a public rating process, and expects the process
completed during Q2 2018.
Trading update
In connection with the upcoming investor meetings, and possible bond
issue, the Company is hereby releasing a trading update based on
preliminary financial information for the third quarter of 2017.
Gross cash collection of NOK 650 million (474)
- up 37% y-o-y
Portfolio purchases of NOK 702 million (254)
- up 176% y-o-y
Total gross ERC at end of quarter of NOK 12,190 million (8,014)
- up 52% y-o-y
(comparable figures for Q3 2016 in brackets)
B2H experienced record-strong cash collection and operational costs
in line with expectations in Q3 2017.
The Company acquired portfolios for NOK 702 million during the
quarter, spread across all regions present. Over the last 12 months,
B2H has acquired portfolios for approx. NOK 3.2 billion (up 46% y-o-
y) and grown the total gross ERC to approx. NOK 12.2 billion (up 52%
y-o-y).
The Company continues to see strong momentum in its main markets and
substantial growth potential in the current pipeline.
Furthermore, B2H has completed an agreement with Nordea Bank AB
whereby the bank has increased the current Revolving Credit Facility
(RCF) with a EUR 100 million Term Loan maturing 31 December 2018.
The margin structure is unchanged. The new restated and amended RCF
of EUR 360 million supports the Company's growth ambitions going
forward. Following the increase, B2H has NOK 1,580 million available
for investments at the end of third quarter.
For further information, please contact:
Olav Dalen Zahl, Chief Executive Officer, B2Holding ASA
+47 909 86 386
Erik J. Johnsen, Chief Financial Officer, B2Holding ASA
+47 415 77 055
This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
