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Aktiv acquires £470m MBNA portfolio
Debt buyer Aktiv Kapital has today signed a contract to acquire a non-performing loan portfolio of MBNA debts with a face value of £470m. Credit Today understands the portfolio is a secondary purchase from original buyer Varde. The portfolio consists of more than 90,000 accounts of unsecured, non-performing consumer loans, with collections in the 12 months prior to completion of over £13m. The accounts are serviced by Experto Credite and it is believed they will remain there for collection. Aktiv Kapital has initially financed the acquisition of the portfolio through a short term loan of $50 million from Metrogas Holdings, a company affiliated to its largest shareholder Geveran Trading. Metrogas has the option to acquire the portfolio at cost if the loan is not repaid.....Read more HERE-
#15corpio commentedEditing a commentAktiv Kapital has purchased a UK debt portfolio with an anticipated face value of £228m. The firm has acquired the non-performing accounts on a forward flow arrangement from a global financial institution. The portfolio contains roughly 43,000 accounts of unsecured, non-performing consumer loans, while the forward flow arrangement sees Aktiv pay a pre-determined price for the debt over a fixed time period....Source:
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