NEO Finance: Asset management company nordIX AG acquires loan portfolio from NEO Finance for 950K EUR
Asset management company nordIX AG acquires loan portfolio from NEO Finance for 950K EUR
NEO Finance AB
Important event notification
After the start of a successful cooperation between NEO Finance and the German bond asset manager nordIX in August, during which nordIX committed to invest at least 3 million euros in the loan portfolio constituted by NEO Finance , the institutional investor decided to acquire part of the previously constituted loan portfolio. .
Concluding a new transaction between NEO Finance and nordIX, it is planned to sell the part of the loan portfolio to the institutional investor according to the criteria established during the first transaction. The wallet will be sold with a bonus agreed upon by the parties and mutually beneficial. NEO Finance plans to use the money received from nordIX to buy back bonds and repay loans at a time previously agreed with creditors and to expand the operations of the company.
“This transaction is great proof that the partnership with nordIX has been successfully launched and that we continue to work together to derive mutual benefits. The arrival of an institutional investor for our platform was also a great recognition. in the market, after almost two months we are happy to ensure smoother platform processes, faster financing of loans at market interest rates. With the help of this transaction, the platform is moving forward successfully towards its long-term objectives in order to implement a change so that the main benefits of the company would not come from the investment, but from the intermediation â, explains Evaldas Remeikis, chairman of the board of directors of NEO Finance.
From the start of the business until now, the platform has invested 2.3 million euros of loan portfolio in the primary market in order to provide loans to clients in a shorter time frame.
On August 12, 2021, by signing an agreement with NEO Finance, nordIX committed to investing regularly over the next few years. Almost two months after the start of the cooperation, nordIX has already invested nearly 700K EUR in NEO Finance loans.
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NEO Finance AB published this content on September 29, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 29, 2021 03:01:02 PM UTC.