CURO Expands Canada SPV Facility with Additional C$50 Million in Committed Capacity

Rhea-AI Summary

CURO Group Holdings Corp. (NYSE: CURO) announced the closure of C$50 million in additional committed capacity to its Canada SPV facility as of March 31, 2022. This expansion raises the total committed capacity to C$400 million, up from C$350 million as of December 31, 2021. CFO Roger Dean emphasized that this growth demonstrates strong portfolio performance and positions CURO to efficiently support Canadian non-prime lending. The company aims to enhance its financing capabilities for Canadian Direct Lending and Flexiti.

Positive

• Increase in total committed capacity to Canada SPV facility to C$400 million from C$350 million.
• Ability to further expand commitment by an additional C$50 million in the future.

Negative

• None.

WICHITA, Kan.--(BUSINESS WIRE)-- CURO Group Holdings Corp. (NYSE: CURO) (“CURO”), a tech-enabled, omni-channel consumer finance company serving a full spectrum of non-prime and prime consumers in the U.S. and Canada, today announced that on March 31, 2022, it closed C$50 million of additional committed capacity to its existing Canada SPV facility, with the ability to expand such committed capacity by an additional C$50 Million via the existing accordion in the future.

“The expansion of our Canada SPV facility reflects the strength of our mutual, long-standing relationship with our lender and our ability to post strong portfolio performance along with high growth," said Roger Dean, CFO of CURO. “This positions us to provide efficient financing to support our Canadian nonprime growth in 2022 and beyond – both for Canadian Direct Lending and Flexiti.”

As a result of this increase, the Canada SPV facility provides total committed capacity of up to C$400 million, up from C$350 million as of December 31, 2021.

About CURO

CURO Group Holdings Corp. (NYSE: CURO) serves the evolving needs of the financial consumer. In 1997, the Company was founded by three childhood friends in Kansas to meet the growing consumer need for short-term loans. Today, CURO operates a robust, omni-channel platform providing comprehensive credit solutions to help customers achieve their financial goals. CURO’s decades of experience with alternative data power the underwriting and scoring engine, mitigating risk across the full spectrum of credit products. CURO operates under a number of brands including Speedy Cash®, Rapid Cash®, Cash Money®, LendDirect®, Flexiti®, Avío Credit®, Opt+®, Revolve Finance®, Heights Finance, Southern Finance, Covington Credit, Quick Credit and First Phase. Our diversified product channels allow us to meet the changing needs and preferences of our customers.

(CURO-NWS)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005219/en/

Investor Relations:

Roger Dean

Executive Vice President and Chief Financial Officer

Phone: 844-200-0342

Email: IR@curo.com

Or

Financial Profiles, Inc.

Curo@finprofiles.com

Source: CURO Group Holdings Corp.

FAQ

What recent financial update did CURO Group Holdings announce?

CURO Group Holdings announced the closure of C$50 million in additional committed capacity to its Canada SPV facility, increasing the total to C$400 million.

What is the date of CURO's announcement regarding its Canada SPV facility?

CURO announced the update on March 31, 2022.

How much capacity can CURO's Canada SPV facility increase in the future?

The Canada SPV facility can potentially expand by an additional C$50 million.

What does the increase in CURO's SPV facility capacity indicate?

The increase reflects strong portfolio performance and positions CURO for growth in Canadian non-prime lending.