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.