Resurs Holding’s subsidiary Resurs Bank has successfully extended its existing ABS financing of SEK 2.9 billion. This is in line with Resurs’s strategy of long-term diversified financing.
An agreement to extend the existing ABS financing was signed on 19 June 2019. It comprises a securitisation of consumer loans, which is a form of structured financing known as asset-backed securities (ABS).
The extension means that a new 18-month revolving period has now commenced. This financing will take place with the assistance of a leading international bank.
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.9 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the first quarter of 2019, the Group had 732 employees and a loan portfolio of SEK 29.2 billion. Resurs is listed on Nasdaq Stockholm.