(Debtwire) Lowell targets margin expansion and future NPL opportunities following balance sheet boost – CFO

Special opportunities firm Sarria had three of its theses confirmed from today’s call. Firstly, that other debt collectors have written down portfolios and Lowell could next quarter. Secondly, that management seem confident the equity injection will stay, and they want the business to grow. Thirdly, that the company may have accelerated collections, either through selling NPLs or offering deals to delinquents for one-off payments.

Sarria had been looking to bring a group of bondholders together to structure a refinancing plan, as reported. It also previously held a conference call for noteholders, as reported.

Guest User27 November 2020LOWELL

(Debtwire) Lowell bondholder seeks to form group via Sarria to relaunch refi process with new proposal

Independent buy-side desk Sarria is looking to bring together a group of Lowell bondholders and additional funds and structure a refinancing plan that it aims to take to the UK-headquartered debt purchaser, according to two sources familiar with the situation. The initiative was started by Sarria together with a sizeable client, with the aim of relaunching the refinancing process that stalled after talks with a group of wall-crossed funds broke down in July.

Guest User22 September 2020DEBTWIRE, LOWELL