Q1 2019 B2holding ASA Earnings Call Transcript
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NOK 570 million whereas 98% was purchases of unsecured claims portfolios.
We delivered all-time high gross cash collection, an increase by 61% compared to Q1 2018, and also showing a very nice growth in the cash EBITDA by 66%.
From last year, we have reduced the cost to collect from 25%, down to 22% due to improved operational efficiency, economics of scale and also a higher amount coming from recoveries of secured portfolios.
Last week, we successfully placed a new bond, senior unsecured bond, of EUR 200 million, and at the same time, all covenants for all the bonds were aligned. We also got some sanctions in the covenants from the 3 banks that are behind the RSF (sic) [RCF] -- through the companies, Nordea, DNB and Swedbank, and together with these new bond covenants that enable us for further growth in different type of co-investment structures like joint ventures. Joint ventures means that we do them, get a capability to buy larger -- participate in larger portfolio acquisitions but necessarily don't
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