Cabot announces new funding structure

1st September 2020

Cabot Credit Management will be combined with US collections specialist Midland Credit Management it has been announced by the company’s parent company Encore Capital Group.

The company says that it has taken important steps toward its goal of operational simplification and funding optimisation.

Cabot Credit Management is one of Encore’s two primary operating units, which has legally separate funding structures. Encore has initiated a process to combine the two balance sheets into a unified funding structure.

In this configuration, Encore would become the parent of a restricted group consisting of all subsidiaries of Encore against which all covenant performance would be measured.

Encore has said that combining the two companies will fully leverage the combined size and maximise financial flexibility through a global borrowing base and enhanced access to capital markets.

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Cabot announces new funding structure

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