Two announcements about international debt buying hit the ARM industry Friday, both involving major consumer credit markets.
Norwegian debt buyer and collector Aktiv Kapital said that it has entered into an agreement with a “leading global financial Institution” to purchase more than $360 million in unsecured, non-performing consumer debt on a forward flow basis. The portfolio will consist of some 43,000 accounts from consumers in the United Kingdom.
In Brazil, non-performing loan specialist Jive Investments announced that it would be purchasing about $600 million in distressed loans from Lehman Brothers.
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