Dollar Financial Corp. Announces Pricing of $600 Million 10 3/8% Senior Notes
BERWYN, PA. December 11, 2009 - Dollar Financial Corp. (NASDAQ: DLLR), a leading international diversified financial services company primarily serving unbanked and under-banked consumers for nearly 30 years, announced the pricing of the $600 million aggregate principal amount of senior notes offered by its indirect wholly owned Canadian subsidiary, National Money Mart Company. The notes will pay interest semi-annually at a rate of 10.375% per annum. The notes will be fully and unconditionally guaranteed, on a senior unsecured basis, by Dollar Financial Corp. and certain of its current and future direct and indirect wholly owned U.S. and Canadian subsidiaries. The notes will be sold to qualified institutional buyers in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The offering is expected to settle on December 23, 2009, subject to customary closing conditions.
Dollar Financial Corp. intends to use a portion of the net proceeds of the offering to finance the previously announced acquisition by its wholly owned subsidiary, Dollar Financial Group, Inc., of Military Financial Services, LLC, and to prepay approximately $350 million of outstanding borrowings under the term loan portion of its senior secured credit facility. The remainder of the proceeds will be utilized for general corporate purposes, which could include funding additional growth opportunities.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering circular.
Source: Company website