Information  X 
Enter a valid email address

Amigo Holdings PLC (AMGO)

  Print      Mail a friend

Wednesday 05 June, 2019

Amigo Holdings PLC

Announcement of securitisation

RNS Number : 1501B
Amigo Holdings PLC
05 June 2019
 

5 June 2019

Amigo Holdings PLC

("Amigo" or the "Company")

 

Announcement of Agreement to Upsize Securitisation Facility

 

Amigo Holdings PLC is pleased to announce that it has entered into an agreement to increase the size of its securitisation facility (the "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.

 

 

Additional Information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise.

This announcement constitutes notice by Amigo Luxembourg S.A. (the "Issuer") to the holders of the Issuer's 7.625% Senior Secured Notes due 2024 (for the notes issued pursuant to Rule 144A of the United States Securities Act of 1933, ISIN: XS1533928468 and Common Code: 153392846; for the notes issued pursuant to Regulation S of the United States Securities Act of 1933, ISIN: XS1533928625 and Common Code: 153392862) (the "Notes") issued pursuant to pursuant to Section 4.03(a)(3) of an indenture dated January 20, 2017 among, inter alia, the Issuer, the guarantors named therein and U.S. Bank Trustees Limited, as trustee and security agent.  Amigo Holdings PLC is the indirect parent company of the Issuer. This announcement shall constitute a "Report" to holders of the Notes.

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014

 

The person responsible for making this announcement is: Roger Bennett, Head of Company Secretariat.

 

-ENDS-

 

Contacts:

 

RBC Capital Markets                                       +44 (0) 20 7653 4000

Oliver Hearsey                                                 

Marcus Jackson                                                               

 

Notes to Editors:

 

About Amigo Loans

Amigo Holdings PLC ("Amigo" or the "Company") is listed on the main market of the London Stock Exchange (ticker: AMGO). 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.

 

The guarantor loan concept introduces a second individual to the lending relationship, typically a family member or friend with a stronger credit profile than the borrower. This individual acts as guarantor, undertaking to make loan payments if the borrower does not.

 

Amigo was founded in 2005 and has grown to become the UK's largest provider of guarantor loans, with approximately 88% UK product share as of 31 March 2018. In the process, Amigo's guarantor loan product has allowed borrowers to rebuild their credit scores and improve their ability to access credit from mainstream financial service providers in the future.

 

Amigo is a mid-cost credit provider with one simple and transparent product - a guarantor loan at an APR of 49.9%, with no fees, early redemption penalties or any other charges.

 

Amigo Loans Ltd and Amigo Management Services Ltd are authorised and regulated in the UK by the Financial Conduct Authority (FCA).

 

LEI: 213800PUHEBLCWDW9T74


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCUGUUPQUPBPUC

a d v e r t i s e m e n t