DDM was founded in 2007 and went through a start-up phase in its first two years to establish the company, making its initial investments in Russia in August 2008.
From 2009 to 2012 DDM recruited key personnel, created business processes and developed its IT system. In 2013, DDM embarked on its strategy to significantly scale up its operations after several years of strong financial performance and proof of concept. Part of this strategy was to raise new equity and debt capital.
Following a new issue of 2.6 million shares, DDM Holding AG was listed on Nasdaq First North in Stockholm, Sweden in August 2014. DDM has broadened its geographic scope by entering Slovenia and Poland in 2014 and in Hungary in 2015. In June 2016 DDM completed a share issue of about 1.9 million shares, followed by the completion of a landmark acquisition in Slovenia and the issuance of its first Euro denominated bond in July 2016. In January 2017 DDM refinanced its existing debt with a EUR 50M bond at 9.5% before completing a share issue of about 4.5 million shares in March 2017. In April 2017 DDM completed a EUR 35M tap issue of its outstanding bond. In June 2017 DDM entered Croatia, followed by a milestone transaction in Greece in July 2017. At the end of September DDM Debt AB agreed a super senior revolving credit facility of EUR 17M with a Swedish bank. In November DDM Finance AB raised EUR 10M in a bridge financing transaction, and in December 2017 DDM Debt AB issued EUR 50M of senior secured bonds at 8%, within a total framework of EUR 160M.
2019 was a transformational year for DDM, as we acquired significant portfolios across our core markets aligned with our strategic growth plan as a specialized investor and manager of secured non-performing loan portfolios. We also successfully refinanced our existing debt structure to improve flexibility, extending the maturity of our existing financing.
DDM was created by a group of individuals that had previously successfully built a similar company in Zug, Switzerland. The management team has more than 50 years combined experience in the distressed asset industry and has overseen many thousands of transactions in more than 25 countries. In addition, the management team has particular strengths in roll-out of a business model to new countries with a strong central function for the core processes (data management, analysis, performance and financial control).