RBC reduces securitization facility with Amigo

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By Tom Brown
17 Aug 2020

Royal Bank of Canada agreed to a further extension for a performance trigger waiver on its securitization facility with Amigo Holdings and slimmed the facility down from £300m to £250m. Separately, founder James Benamor vowed to return to the company.

Amigo uses the securitization facility to fund new customer originations and to repay drawings under its revolving credit facility, lowering its cost of capital. RBC originally set up the three year facility in 2018.

RBC has been in negotiation with Amigo over the terms of the facility ...

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