Mogo Inc. (NASDAQ:MOGO), a digital wealth and payments business, today announced an amendment to its existing senior credit facility with funds managed by affiliates of Fortress Investment Group LLC.
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 relationship with one of the world’s most respected investment managers.”
