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Mogo increases available loan capital under credit facility

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Mogo increases available loan capital under credit facility

Mogo Inc. increased the available loan capital under its senior credit facility to C$60 million from C$50 million.

Mogo also lowered the effective interest rate to the London interbank offered rate plus 9%, with a Libor floor of 1.5%, from a maximum of Libor plus 12.5%, with a Libor floor of 2%, effective July 2. The maturity date of the credit facility was extended to July 2, 2022, from July 2, 2020.