Amigo holds on to RBC securitization facility as deadline nears

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By Tom Brown
31 Jul 2020

Amigo Holdings, a UK guarantor loan provider, has won a waiver for its £300m securitization facility with the Royal Bank of Canada (RBC), giving it until August 14 to come to an agreement on terms while the company fends off an Financial Conduct Authority probe and a public spat between the board and the company's founder.

The group extended a revolving credit facility of loan receivables to Amigo in November 2018 with RBC, increasing it to a £200m warehousing facility in December 2018 and then to £300m in June 2019.

Operations slowed down in March as the coronavirus pandemic engulfed the UK, with ...

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