Intrum AB completes EUR 4.5bn cross-border recapitalisation transaction

Niederer Kraft Frey advised the Security Agent on Swiss law aspects of Intrum AB’s recapitalisation which closed on 24 July 2025. The transaction was implemented by way of a pre-packaged Chapter 11 and a Swedish reorganisation plan and effected a rescheduling and restructuring of Intrum’s c. EUR 4.5 billion bond, revolving and term loan debt.

Intrum is Europe’s leading credit management services provider, which operates in 20 markets, assisting businesses to secure repayment from their consumers and helping consumers to regain financial stability.

The NKF team was led by Transactions partner Adrian Koller, working with associate Manuel Hirlinger, junior associate Selim Tisli (all Transactions), as well as partner Markus Kronauer (Tax). Clifford Chance (London) acted as lead counsel to the Steering Committee of RCF lenders in this financing transaction.