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0 0 0 0 -0.00398406374502001 -1.76927972051818E-16 -0.00199203187251027 0.00199203187250974
Stock impact report

Klarna to Offload £30 Billion Portfolio in Deal With Elliott [Yahoo! Finance]

Banco Santander, S.A. Sponsored ADR (Spain) (SAN) 
Company Research Source: Yahoo! Finance
Most Read from Bloomberg The deal with a subsidiary of the hedge fund Elliott Investment Management will give Klarna £30 billion of fresh firepower as it looks to grow its business around the world. Klarna will continue to service the loans included in the agreement. “By efficiently managing our assets, we can deploy shareholder equity more effectively,” Klarna Chief Financial Officer Niclas Neglen said in a statement announcing the deal. “This is a unique deal, designed to support Klarna's global growth.” Klarna, which has a banking license in its home country of Sweden, has been building a platform that allows it to offload loans on its balance sheet to investors around the world. The moves free up capital and mean the financial technology behemoth can more easily make new loans to customers. Several of Europe's largest banks including Deutsche Bank AG, Nordea Bank Abp and Banco Santander SA have also used such moves as part of their significant risk transfers programs. SRT Show less Read more
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