This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Swedish credit management services company Intrum’s bonds sank across the curve after it hired advisers to help restructure its €5.4bn ($6bn) debt load. As per sources, the advisers are seeing if Intrum can access markets to refinance its bonds, or if it needs to restructure all or part of the debt. The company reported a 39% drop in adjusted-EPS in 2023 and also announced a deal earlier this year to sell about 30% of its debt portfolio to Cerberus Capital, whilst retaining a 35% stake. The company has been heavily impacted by the sharp rise in interest rates in addition to a squeeze on consumer spending and high inflation. Following Intrum’s impact, bonds of other European debt collectors have also dropped as per Bloomberg.