Debt collector Intrum soars on agreement with bondholder group
Updates share move, adds analyst comments in bullets 3-5
** Shares in Intrum INTRUM.ST jump 24% after the debt-laden debt collector agreed on key terms of potential refinancing and recapitalisation with a long-dated group of bondholders
** The shares touched their highest level since February at SEK 36.50 in early trading, before paring gains to trade at SEK 33.22 by 1142 GMT
** Arctic Securities analysts say the proposal is more "equity friendly" than they had anticipated
** "Our take from the contemplated terms is that the long-dated group has put forth an equity friendly proposal as to increase chances of acceptance from Intrum," the brokerage says
** But it adds the likelihood of this being the final proposal is very low, noting a solution involving bonds would require approval from >90% of the nominal amount in each outstanding bond
** Intrum says it continues to explore other financing proposals
** The shares are on track for their best day in three months if gains hold
Reporting by Greta Rosen Fondahn
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