Axis Announces Renewal of Senior Credit Facility
TORONTO, Aug. 4, 2020 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) Canada's fastest growing publicly-traded sub-prime automotive finance company, is pleased to announce that it has renewed it's senior secured credit facility through December 31, 2020.
Axis' senior secured credit facility, which matured on July 31, 2020 has been extended through December 2020. The facility currently bears interest at 5.2% annually (prime rate + 275bps) and the company is in compliance with all terms and covenants of that facility as of the date hereof.
About Axis Auto Finance
Axis Auto Finance is a technology-driven provider of alternative used vehicle financing options servicing roughly 30% of Canadians (Source: Equifax) that have credit scores in the non-prime range. All Axis auto loans report to the credit bureau, resulting in 71% of customers seeing a significant improvement of their credit scores. These clients use Axis as a stepping-stone in their credit rebuilding journey and we are proud to be improving the lives of these Canadians. Supported by state-of-the-art, in-house developed risk analytics, Axis continues to be Canada's fastest-growing publicly traded auto-financing company. Further information on the Company can be found at axisfinancegroup.com/investors.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Axis Auto Finance Inc.
Axis Auto Finance Inc., Ilja Troitschanski, President, (416) 633-5626, [email protected]
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