Mogo Announces Three-Year Extension to Credit Facility with Fortress Investment Group
Mogo Inc. - Common Shares (MOGO)
Company Research
Source: Business Wire
Amendment Includes Lower Interest RateFacility Expandable up to $100M VANCOUVER, British Columbia--(BUSINESS WIRE)--Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a digital wealth and payments business, today announced an amendment to its existing senior credit facility (“Credit Facility”) with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). This Credit Facility supports Mogo’s digital credit solution.The amended facility extends the maturity date by three years, until January 2, 2029, reduces the interest rate by 100 basis points, and increases the available capital from $60.0 million to $100.0 million in certain circumstances.“With this amended facility, we lower our cost of capital while also increasing our financial flexibility and access to capital to support long-term growth,” said Greg Feller, President & CFO. “Fortress has been an excellent financial partner to Mogo for more than 10 years, and we’re pleased to extend this relationsh
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- Mogo (NASDAQ:MOGO) had its "sell (d)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Mogo (NASDAQ:MOGO) had its "sell (d)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Mogo (NASDAQ:MOGO) had its "sell (d)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
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- Mogo (NASDAQ:MOGO) was downgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=MOGO&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall Street Zen</a> froMarketBeat