Debitos to cooperate with TRACE CAPITAL: secondary debt market expands to Central and Eastern Europe
June 13, 2018 – Frankfurt
From now on, the online credit marketplace Debitos will work with TRACE CAPITAL, a boutique advisory from Vienna which is specialized in the regions Central and Eastern Europe (CEE) and Southeastern Europe (SEE). The cooperation partners will work on the reduction of non-performing loans in the local markets. Debitos CEO and founder, Timur Peters, notes: “Debitos is actively expanding its presence across Europe and our cooperation with TRACE CAPITAL, a regional Special Situations advisor, will enable us to deeply penetrate CEE and SEE markets. We look forward to a very productive collaboration and potential future co-investment.”
Robert Bruckner, former BAWAG P.S.K. executive (portfolio bank of Cerberus Capital Management) and now director and founding partner of TRACE CAPITAL, adds: “We see the NPL market in CEE growing mainly due to heavy deleveraging by financial institutions. The average NPL rate of the CEE region is still above the EU average. FinTech will take its place in this market dynamics. Online auction platforms in particular, present a new, efficient, and cost-effective method for the sale of single names and portfolios of non-performing exposures. This method is especially suited to CEE and SEE markets. We are delighted to combine our regional and sector expertise with that of Debitos, Europe’s foremost online illiquid credit auction platform.”
TRACE CAPITAL is a boutique advisory, founded in 2014, with a geographical focus on Central and Eastern Europe (CEE) and South Eastern Europe (SEE). Its core businesses are principal investment, asset management, corporate finance, restructuring advice, and Special Situations, including non-performing loans (NPLs). In Q1 2018, TRACE CAPITAL arranged the acquisition of a EUR 100 Million Austrian real estate portfolio by a United States based global investment fund.
Debitos is an online marketplace which allows companies, banks and funds to sell their illiquid credit exposures on the market through its auction-based online transaction platform. The platform leverages on the digitalization of the entire sale process and can reduce the expected disposal timing to 3-8 weeks compared to 3-6 months of the traditional process. A complete set of tools, from data presentation and analysis (through its Virtual Data Room) to market data, Q&A monitoring and online bidding are provided on the platform to deliver one single point of deal/market intelligence, interaction and pricing. Debitos, which was founded in Frankfurt in 2010 and has since concluded more than 220 online transactions with a total gross book value in excess of €4bn. By now more than 500 investors from all over the world have registered with Debitos.
You can find more information at: https://debitos.com/
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