Bonds
Bond Traders Are Alarmed by Debt Firm’s Own Massive Debt Pile
Like rivals, the Swedish debt collector Intrum took on huge leverage to fund its wager on bad loans. Now it’s struggling to cope with a hard new reality.
Sweden’s Intrum has risen to prominence over the past decade as one of Europe’s largest debt collectors
Source: Intrum ABThis article is for subscribers only.
If Andres Rubio is troubled by the ugly financial state of the large debt-collection company that he runs, he doesn’t let on in public.
The chief executive officer of Sweden’s Intrum AB was smiling broadly during an interview with Bloomberg last week to discuss the hiring of advisers to look at restructuring the ailing company’s debt. “Very positive,” was his view of the firm’s debt-servicing division, a growing business with “tremendous potential.”