Amigo - comment
The FCA’s approval of a limited return to lending was expected given the book-building exercise for Amigo’s equity raise has begun. Amigo’s expectations for originations in the next 4 years are above our expectations but yield and impairment are broadly in line with pour modelling. Any bondholder wishing to take part in the equity-raising exercise should speak to Andreas Wesemann at Ashcombe Advisors (contact details below).
- Originations: £200m in year 2, over £350m in year 4.
- Book Yield 38%, Impairment to revenue ratio 30%.
Andreas Wesemann
Ashcome Advisors. 50 Albermarle Street
020 7529 5804