Business
goeasy Ltd. Closes US$450 Million and C$175 Million Offering of Senior Unsecured Notes
MISSISSAUGA, Ontario, Aug. 20, 2025 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“ goeasy...
About this update from Goeasy Ltd.
[{"type":"text","content":"goeasy Ltd. Closes US$450 Million and C$175 Million Offering of Senior Unsecured Notes\n\n\n\n MISSISSAUGA, Ontario, Aug. 20, 2025 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“\n \n goeasy\n \n ” or the “\n \n Company\n \n ”), one of Canada’s leading consumer lenders focused on delivering a full suite of financial services to Canadians with near to non-prime credit scores, is pleased to announce that it closed its previously announced offering of US$450 million aggregate principal amount of senior unsecured notes due 2031 (the “\n \n USD\n \n\n Notes\n \n ”), which was upsized from US$400 million at the initial time of offering, and C$175 million aggregate principal amount of 6.000% senior unsecured notes due 2030 (the “\n \n New CAD Notes\n \n ”, and together with the USD Notes, the “\n \n Notes\n \n ”), which was upsized from C$100 million at the initial time of offering. The New CAD Notes were issued at a price of C$997.50 per C$1,000 principal amount, plus accrued interest from May 15, 2025. The New CAD 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 6.000% senior unsecured notes due 2030 issued on November 4, 2024 (together with the New CAD Notes, the “\n \n CAD Notes\n \n ”). An aggregate of C$325 million principal amount of the CAD Notes is outstanding following closing of the offering.\n \n\n In connection with the offering of the USD 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 on the USD Notes to 6.106% per annum. Before giving effect to the Currency Swap, the coupon on the USD Notes is 6.875% per annum. 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 “We are pleased to announce the closing of our upsized unsecured notes offering. The increases to both the U.S. dollar and Canadian dollar denominated issuances reflected strong market demand and confidence in our business,” said Hal Khouri, goeasy's Executive Vice President...