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goeasy Ltd. Announces Pricing of US$400 Million of Senior Unsecured Notes
goeasy Ltd. Announces Pricing of US$400 Million of Senior Unsecured Notes Canada NewsWi...
About this update from Goeasy Ltd.
[{"type":"text","content":"\n\n\n\n goeasy Ltd. Announces Pricing of US$400 Million 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 March 25, 2025\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 priced\n \n US$400 million\n \n aggregate principal amount of 7.375% senior unsecured notes due 2030 (the \"\n \n Notes\n \n \"). The Notes will be guaranteed on a senior unsecured basis by certain of goeasy's current and future subsidiaries. Concurrently with the offering, goeasy expects to enter into a currency swap agreement (the \"\n \n Currency Swap\n \n \") to fix the foreign currency exchange rate for the proceeds from the offering, which it expects will reduce the effective cost of borrowing of the Notes when converted into Canadian currency.\n \n\n\n\n\n\n\n\n\n goeasy estimates the net proceeds from the offering will be approximately\n \n C$566\n \n .4 million, based on the Bank of\n \n Canada\n \n daily rate on\n \n March 21, 2025\n \n for the Canadian dollar/U.S. dollar exchange rate, after deducting fees and estimated offering expenses, and subject to adjustment as a result of the Currency Swap. goeasy intends to use the net proceeds from the sale of the Notes to partially repay indebtedness under its secured facilities and for general corporate purposes.\n \n\n The offering of the Notes is expected to close on\n \n April 1, 2025\n \n , subject to customary closing conditions.\n \n\n The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the \"\n \n Securities Act\n \n \"), or any state securities laws, and the Notes may not be offered or sold in\n \n the United States\n \n or to any U.S. persons unless the Notes are registered under the Securities Act or pursuant to an exemption from the regist...