REG - Amigo Holdings PLC - Funding update

Amigo HoldingsAnnouncement

04/01/2022 07:00

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RNS Number : 3185X  Amigo Holdings PLC  04 January 2022

4 January 2022

Amigo Holdings PLC ("Amigo" or the "Company")

Funding update

Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the
UK, is today confirming the early redemption, at par, of £184.1m of the
£234.1m outstanding 7.625% senior secured notes ("bonds") due in 2024. This
follows the disclosure in Amigo's half year results announcement, made on 29
November 2021, that the Board was considering an early part redemption of the
bonds.

 

The early redemption will take place on 15 January 2022. The holders of the
bonds will receive formal notice of the early redemption in accordance with
the terms and conditions of the bonds. The remaining £50m outstanding is due
in January 2024. Prior to the redemption and  interest due on the bonds, to
be paid on 15 January 2022, Amigo currently has unrestricted cash in excess of
£280m.

 

Under the terms of the indenture for the bonds, the early redemption will be
at par and the expected future interest savings of £28.1m will form part of
the increased cash contribution for the proposed Scheme of Arrangement, as
announced on 6 December 2021.

 

ENDS

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 this
announcement is Roger Bennett, Company Secretary.

Contacts:

Amigo Holdings PLC       investors@amigo.me (mailto:investors@amigo.me)
 

Kate Patrick                      Head of Investor
Relations

Roger Bennett                  Company
Secretary

 

Media enquiries              Amigoloans@lansons.com

Tom Baldock                      07860 101715

Louis Wilson                      07950 970366

 

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