Subprime lender Amigo's securitisation facility cut, waiver extended
June 25 (Reuters) - Subprime lender Amigo said on Friday it has secured a three month extension to a funding line but that its size has been cut from 250 million pounds ($348.10 million)to 100 million, as it scrambles to secure its future after a court rejected a rescue plan for the firm last month.
Amigo said it had agreed with backers for a waiver over the performance triggers on a securitisation facility to be extended to Sept 24 from June 25.
Amigo repeated that it was reviewing its options, including drawing up a new rescue plan or insolvency. ($1 = 0.7182 pounds) (Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong)
