Amigo Extends Securitization Waiver Period to Sept. 24, Facility Reduced to £100M From £250M; Discus1 Jul 2021 22:16
U.K. consumer loans provider Amigo said it has extended the securitization facility performance trigger waiver period to Sept. 24, 2021 from June 25, 2021.
Given the current suspension of all new lending activity at Amigo, the size of the securitization facility has been reduced to £100 million from £250 million, effective June 25, 2021.
All cash generation arising from customer loans held within the facility is restricted and will continue to be used during the extended waiver period to further reduce the outstanding balance of the facility. The facility is currently drawn down by £27 million.
read our full analysis here: https://reorg.com/update-1-amigo-extends-securitization-waiver-period/