Amigo Holdings PLC (LON:AMGO) has announced today that it has entered into an agreement to increase the size of its securitisation facility, which will bring total commitments under the Facility to £300 million. The increase of the Facility is due to complete on 6 June 2019.
The Company intends to use drawdowns from the Facility for general corporate purposes and the potential repayment of indebtedness, including its outstanding bonds, from time to time. The Facility, which has a minimum three-year term and amortises thereafter, will have a funding rate c. 500 bps below the current cost of the Company’s senior secured notes and will, in time, lower Amigo’s overall average cost of capital.
Amigo Holdings PLC is listed on the main market of the London Stock Exchange. Amigo is the leading provider of guarantor loans in the UK and offers access to mid-cost credit to those who are unable to borrow from traditional lenders due to their credit histories.
