CURO Group Negotiates Forbearance and Debt Restructuring

The latest update is out from Curo Group Holdings Corp (CURO).

CURO Group Holdings Corp has opted to not pay the interest due on its 7.500% Senior Secured Notes, triggering grace periods for potential default. The company has since entered into forbearance agreements with a majority of its note holders, agreeing to hold off on exercising default rights until mid-March 2024. Simultaneously, key lenders have waived a cross-default under the company’s First Lien Credit Agreement. Additionally, CURO is engaged in discussions with stakeholders for a potential financial restructuring to improve its balance sheet and overall financial stance.

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