CURO Group secures forbearance agreements and waiver to enhance financial stability and foster growth

Company

CURO Group Holdings Corp.

Law Firm / Organization
Cassels Brock & Blackwell LLP

Company

FTI Consulting Canada

Law Firm / Organization
Bennett Jones LLP

On March 26, 2024, CURO Group Holdings Corp. entered into forbearance agreements with holders of approximately 84% of its 7.500% Senior 1.5 Lien Secured Notes and 74% of its Senior Secured Notes, both due in 2028, and obtained a waiver for certain defaults from lenders of its 1.0 Lien Credit Agreement. These agreements, involving lenders holding a majority of the company's debt, prevent these creditors from exercising default remedies against CURO and its affiliates until March 18, 2024. This action allows CURO to continue negotiations to improve its financial structure and support long-term growth. CEO Doug Clark emphasized the importance of this step in maintaining operational excellence and investing in the company's future. Detailed information about these agreements is disclosed in CURO's Form 8-K filed with the SEC

Other
Banking/Finance
Undisclosed/Confidential
Active