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Jul 9 at 07:35 AM
๐ข ๐๐๐๐ ๐๐: $Klarna(KLAR.US) Klarna Secures โฌ900 Million Financing Facility to Expand German Lending
๐ ๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:โค ๐๐ฅ๐๐ซ๐ง๐ secured its first German ๐๐จ๐ซ๐ฐ๐๐ซ๐ ๐๐ฅ๐จ๐ฐ and warehouse financing agreement.โค The facility provides ๐๐๐ ๐๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง in off-balance-sheet funding over two years.โค Klarna sold a portfolio of German ๐ ๐๐ข๐ซ ๐ ๐ข๐ง๐๐ง๐๐ข๐ง๐ term loans into the facility.โค Newly originated receivables will be sold on a ๐ซ๐จ๐ฅ๐ฅ๐ข๐ง๐ ๐๐๐ฌ๐ข๐ฌ throughout the program.โค Klarna will continue handling ๐ฎ๐ง๐๐๐ซ๐ฐ๐ซ๐ข๐ญ๐ข๐ง๐ and servicing of customer loans.โค The facility is expected to support up to ๐๐๐ ๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง in German loan originations.โค New loans will continuously replenish the facility as existing assets amortize.๐ ๐๐ก๐ฒ ๐๐ญ ๐๐๐ญ๐ญ๐๐ซ๐ฌ:โค Off-balance-sheet funding improves Klarna's ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐๐๐๐ข๐๐ข๐๐ง๐๐ฒ as lending expands.โค The facility strengthens Klarna's ability to ๐ฌ๐๐๐ฅ๐ consumer financing in Germany.โค The structure diversifies Klarna's ๐๐ฎ๐ง๐๐ข๐ง๐ ๐ฌ๐จ๐ฎ๐ซ๐๐๐ฌ for future growth.๐ ๐๐ฑ๐ฉ๐๐ซ๐ญ ๐๐ญ๐๐ญ๐๐ฆ๐๐ง๐ญ:โค "This facility is a natural next step, bringing greater capital efficiency as we scale that growth further. We're pleased to welcome new partners to this structure, drawn by the strong credit quality of these products." โ ๐๐ข๐๐ฅ๐๐ฌ ๐๐๐ ๐ฅ๐ฬ๐ง, Chief Financial Officer of Klarna.
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