Fortress Investment Group Amends Mogo’s Senior Credit Facility

Mogo, a Canadian financial technology company, amended its existing senior credit facility with funds managed by affiliates of Fortress Investment Group. The amendment lowers the effective interest rate from a maximum of 9% plus LIBOR with a LIBOR floor of 1.5% to 8% plus LIBOR with no floor. In addition, the amendment increases the available loan capital from $50 million to $60 million and extends the maturity date by three years from July 2, 2022, to July 2, 2025.