Credit Corp Group Limited entered into a binding agreement to acquire New Zealand Ledger Book from Collection House Limited for approximately AUD 12 million.

Credit Corp Group Limited (ASX:CCP) entered into a binding agreement to acquire New Zealand Ledger Book from Collection House Limited (ASX:CLH) for approximately AUD 12 million on February 23, 2022. As part of the transaction, Credit Corp has acquired the senior secured debt of Collection House from its banking syndicate amounting to AUD 52.5 million and advanced a working capital loan facility to Collection House, totaling AUD 7.5 million of funding. This AUD 7.5 million is secured by a first ranking security over the majority of Collection House's assets including the New Zealand PDL book and, at completion, will be netted against the AUD 12 million purchase price.

Completion is expected to occur by the end of March, 2022.