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goeasy Ltd. Announces Closing of US$200 Million Offering of Senior Unsecured Notes
goeasy Ltd. Announces Closing of US$200 Million Offering of Senior Unsecured Notes Cana...
About this update from Goeasy Ltd.
[{"type":"text","content":"\n \n \n \n goeasy Ltd. Announces Closing of US$200 Million Offering of Senior Unsecured Notes\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MISSISSAUGA, ON\n \n \n ,\n \n \n July 25, 2024\n \n \n /CNW/ -\n \n goeasy Ltd.\n \n (TSX: GSY) (\"\n \n \n goeasy\n \n \n \" or the \"\n \n Company\n \n \"), one of\n \n Canada's\n \n leading consumer lenders focused on delivering a full suite of financial services to Canadians with non-prime credit, is pleased to announce that it closed its previously announced offering of\n \n US$200 million\n \n aggregate principal amount of 7.625% senior unsecured notes due 2029 (the \"\n \n New Notes\n \n \"), which was upsized from\n \n US$150 million\n \n at the initial time of offering. The New Notes were issued at a price of\n \n US$1,018.75\n \n per\n \n US$1,000\n \n principal amount, plus accrued interest from\n \n July 1, 2024\n \n . The New Notes have substantially identical terms (other than issuance price, date of issuance and the date from which interest initially accrues) as, and will be treated as a single series with, the Company's 7.625% unsecured notes due 2029 issued on\n \n February 23, 2024\n \n (together with the New Notes, the \"\n \n Notes\n \n \"). An aggregate of\n \n US$600 million\n \n principal amount of Notes is outstanding following closing of the offering.\n \n \n In connection with the offering of the New Notes, goeasy also entered into a currency swap agreement (the \"\n \n Currency Swap\n \n \") to reduce the Canadian dollar equivalent cost of borrowing of the New Notes to 6.38% per annum. goeasy intends to use the net proceeds from the sale of the New Notes for general corporate purposes, including the repayment of indebtedness.\n \n \n \"We are pleased to announce the closing of our unsecured notes offering, which was oversubscribed, highlighting the confidence in our business,\" said\n \n Hal Khouri\n \n , goeasy's Executive Vice President & Chief Financial Officer, \"We are pleased that the Canadian dollar equivalent cost of borrowing at 6.38% per...