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World Acceptance Announces Pricing of $300.0 Million of Senior Notes Due 2026
GREENVILLE, S.C.--(BUSINESS WIRE)-- World Acceptance Corporation (NASDAQ: WRLD) (“World Acceptance” or “the Company”) today announced that it priced its
About this update from World Acceptance Corporation
[{"type":"text","content":" GREENVILLE, S.C.--(BUSINESS WIRE)--\nWorld Acceptance Corporation (NASDAQ: WRLD) (“World Acceptance” or “the Company”) today announced that it priced its $300.0 million aggregate principal amount of senior notes due 2026 (the “notes”) in its previously announced private offering in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The notes will bear interest at an annual rate of 7.0%. The Company expects to close the offering on or about September 27, 2021, subject to the satisfaction of customary closing conditions.\n\nThe notes will be guaranteed on a senior unsecured basis by certain of World Acceptance’s existing subsidiaries that are borrowers or guarantors under the Company’s senior secured revolving credit facility (the “revolving credit facility”).\n\nWorld Acceptance intends to use the proceeds from the notes offering to repay a portion of the outstanding borrowings under the revolving credit facility and to pay related transaction fees and expenses. Proceeds applied to repay a portion of the outstanding borrowings under the revolving credit facility will not reduce the lenders’ commitments thereunder. Amounts applied to repay a portion of the outstanding borrowings under the revolving credit facility may be reborrowed, subject to the terms of the revolving credit facility.\n\nThe notes and the related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act, and to non-U.S. persons in reliance on Regulation S under the Securities Act. The offer and sale of the notes and related guarantees have not been and will not be registered under the Securities Act or any state securities laws, and unless so registered, the notes and related guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.\n\nThis press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer of these securities will be made only by me...