Intrum AB (publ) (OM:INTRUM) agreed to acquire 80% stake in portfolio of 6 400 real estate assets in Spain from Ibercaja Banco, S.A., Residencial Murillo Sociedad Anonima and Cerro Murillo S.L. for approximately €220 million on December 21, 2018. The portfolio will be transferred to a new Company. Intrum will initially hold 80% in the new Company and Ibercaja will retain the remaining 20%. Intrum’s final investment will be approximately €30-40 million once financing and co-investor are in place. The consideration will be funded from existing facilities. Intrum has a committed co-investor and is in the final stages of discussions with external financing for the new Company, and expects to complete this early in Q1 2019. Financing will be provided to new Company and secured against the portfolio and therefore not consolidated on Intrum’s balance sheet. There will be a short, temporary increase in Net Debt/Cash EBITDA of 0.2x from closing until financing and co-investor are in place. The closing of the transaction will take place at the end of December 2018. Javier Amantegui, Jorge Martín, Roberto Grau, María Pradillo, Jorge Martín, Javier Amantegui, Carmen Satrústegui and Itziar Kraus of Clifford Chance S.L.P. acted as legal advisors to Napier Park Global Capital Ltd. Ernst & Young acted as financial advisor to Intrum AB. Allen & Overy acted as legal advisor in this transaction. Intrum AB (publ) (OM:INTRUM) and Napier Park Global Capital Ltd completed the acquisition of 80% stake in portfolio of 6 400 real estate assets in Spain from Ibercaja Banco, S.A., Residencial Murillo Sociedad Anonima and Cerro Murillo S.L. in December 2018. The amount of the deal amounts to €215 million, of which €35 million will be contributed by Intrum and €180 million correspond to external financing.