Amigo Holdings PLC (LSE:AMGO), the controversial lender, has gone ahead with previously announced plans to redeem some loan notes early.
The company, which is in a parlous state after its right to write new loans was suspended pending resolution of compensation claims from customers, has redeemed at par £184.1mln of the £234.1mln outstanding 7.625% senior secured notes due in 2024.
Prior to the redemption and interest due on the bonds, to be paid on 15 January 2022, Amigo currently has unrestricted cash in excess of £280mln.
The early redemption will save around £28.1mln in future interest savings.