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GetBack's units secure mortgage portfolio deal with Danish seller

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GetBack's units secure mortgage portfolio deal with Danish seller

GetBack SA's units entered into two preliminary agreements to acquire performing and nonperforming mortgage loan portfolios from a financial institution based in Denmark, the Polish debt collector said Dec. 22.

The entities will acquire debts secured with mortgages on properties located in Poland, with the total nominal value of the portfolios amounting to around 400 million Polish zlotys.

The final agreements regarding the deal are expected to be signed by March 31, 2018 at the latest, the company said. The name of the Danish seller and the price at which the portfolios will be acquired were not disclosed.

As of Dec. 22, US$1 was equivalent to 3.54 Polish zlotys.