By Jaime Llinares Taboada
Amigo Holdings PLC said Friday that it has agreed to extend the waiver period of its securitization facility to Sept. 24.
The U.K. provider of guarantor loans also said that it has reduced its size of the facility to 100 million pounds ($139.2 million) from GBP250 million given the current suspension of all new lending activity.
"All cash generation arising from customer loans held within the facility is restricted and will continue to be used during the extended waiver period extension to further reduce the outstanding balance of the facility," Amigo said.
The company earlier this month said that it was insolvent and that it was working with the Financial Conduct Authority to identify an appropriate way forward.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT
(END) Dow Jones Newswires