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goeasy Ltd. Announces Proposed Offering of US$550 Million of Senior Unsecured Notes
goeasy Ltd. Announces Proposed Offering of US$550 Million of Senior Unsecured Notes Can...
About this update from Goeasy Ltd.
[{"type":"text","content":"\n \n \n \n goeasy Ltd. Announces Proposed Offering of US$550 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 Nov. 13, 2023\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 non-prime consumer lenders, is pleased to announce that it plans to offer, subject to market and other conditions,\n \n US$550 million\n \n aggregate principal amount of senior unsecured notes (the \"\n \n Notes\n \n \").\n \n \n The actual terms of the Notes, including interest rate, will depend on market conditions at the time of pricing. 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 and for all required payments of principal and interest under the Notes.\n \n \n goeasy intends to use the proceeds from the sale of the Notes to fund the redemption of all of its outstanding 5.375% senior unsecured notes due 2024 (the \"\n \n 2024 Notes\n \n \").\n \n \n The Notes are expected to be guaranteed on a senior unsecured basis by certain of goeasy's current and future subsidiaries.\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 registration requirements of the Securities Act. This offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside\n \n the United States\n \n to non-U.S. persons in offshore transactions in compliance with Rule 903 of Regulation S under the Securities Act. Additionally, in\n \n Canada\n \n the offering will be made pursuant to e...