AnaCap buys Slovenia’s NKBM first lien corporate debt/loan portfolio: Reuters

Specialist European financial services private equity firm AnaCap Financial Partners on Monday acquired the first lien corporate debt and loan portfolio from Slovenia’s second biggest bank Nova KBM (NKBM).

The acquisition was made via its AnaCap Credit Opportunities III fund, targeting performing, semi-performing or non-performing credit assets comprising primarily consumer, small-and medium-sized enterprises and mortgage debt across Europe.

The purchase price or claim amount were not disclosed.

“In addition to completing this initial debt deal in Slovenia, AnaCap view the geography as highly attractive for further investment and look forward to exploring a program of additional opportunities there,” the firm said in a statement emailed to Reuters.

It said the servicer was Elements Capital Partners. NKBM is owned by U.S. investment firm Apollo Global Management (APO.N) and the European Bank for Reconstruction and Development (EBRD) [EBRD.UL], holding an 80 percent and a 20 percent stake in the bank, respectively.

The bank posted a profit of 45.8 million euros in 2017, up 39 percent from a year before. Its outstanding loans amounted to 2.4 billion euros, with non-performing loans accounting for 8.09 percent of all loans.

AnaCap has funds with more than 3.5 billion euros under management across Private Equity and Credit Opportunities vehicles as well as co-invest.

First lien debt holders are paid back before all other debt holders, including other senior debt holders.

At the end of 2017 the total value of NKBM debt securities amounted to 1.68 billion euros, with government securities and securities with state guarantee accounting for 63 percent of the total banking book portfolio.

Source: https://www.pehub.com/2018/08/anacap-buys-slovenias-nkbm-first-lien-corporate-debt-loan-portfolio-reuters/

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