EZCORP announced the successful closing of its private offering of $300,000,000 aggregate principal amount of senior notes due 2032. The notes are senior unsecured obligations of the company and are fully and unconditionally guaranteed by certain wholly-owned domestic subsidiaries. This completion secures significant long-term financing for the company.
The notes bear interest at a rate of 7.375% per annum, payable semiannually, and will mature on April 1, 2032. The net proceeds from the offering totaled approximately $292.5 million, after accounting for discounts and estimated offering expenses.
The company plans to use approximately $103.4 million of these proceeds to repay its outstanding 2.375% Convertible Senior Notes Due 2025 at maturity. The remaining funds are designated for general corporate purposes, enhancing EZCORP's liquidity and capital allocation flexibility.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.