AMERICAS DISTRESS DAILY: Intrum Cuts Debt as US Bankruptcy Ends

Debt collector Intrum AB has ended its Chapter 11 bankruptcy proceedings after successfully recapitalizing and rescheduling its debt obligations. The company secured a 10% discount on its reinstated notes’ debt obligations, providing new financing to support its strategy.

• Intrum reported higher adjusted earnings before interest and tax at 1.39 billion kronor ($146 million) for the second quarter, despite an 8.7% decrease in revenue from a year ago.
• The company plans to continue introducing its AI technology, targeting to drive 20% more collections in the long-term, with the CEO expecting an aggregated financial impact in the next year.

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