Intrum Enters Swedish Court Restructuring for $5 Billion Debt

Debt collector Intrum AB has entered Swedish reorganization proceedings, a further step to restructure about $5.2 billion of debt.

The company filed a petition on Wednesday and its application was approved by a Stockholm court, according to a statement. The company’s Chapter 11 reorganization was confirmedby a Houston court on Dec. 31, over a challenge from a group of holders of 2025 bonds.

The effectiveness of the US bankruptcy decision is conditional on the success of the Swedish process, according to the statement.

In July 2024, Intrum agreed with some of its creditors a 10% haircut on its ...