Openpay Group (ASX:OPY) has requested a suspension from quotation of its securities, to help manage its continuous disclosure obligations while it is in the process of finalising its ongoing funding arrangements.
The buy now, pay later company says discussions with its senior secured lenders are still ongoing, and are expected to conclude by the end of normal trading on Thursday, 9 February 2023.
The halt comes amid a crash in the interest-free lending sector as central banks lift benchmark borrowing rates.
Openpay Group says any disclosure of details regarding the ongoing and incomplete discussions with senior secured lenders would prejudice those discussions and the prospects of it being able to conclude satisfactory agreements.