Nordic debt collection and purchase firm Axactor AB acquired, through unit Axactor Spain, a loan portfolio with a total outstanding balance of €133 million from Banco Santander SA unit Santander Consumer Finance SA.

The portfolio consists of more than 15,000 cases coming from nonperforming loans on the Spanish automobile market.

The acquisition will be financed by Axactor's available cash and its existing credit facilities, the company said Feb. 22.