Mogo Lowers Interest Rate and Extends Credit Facility
January 3, 20202 min
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today announced amendments to its existing senior credit facility (“Credit Facility – Other”) with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The amendments lower the effective interest rate from a maximum of LIBOR plus 12.5%, with a LIBOR floor of 2% to LIBOR plus 9%, with a LIBOR floor of 1.5%, effective July 2, 2020. In addition, the amendment increases the...