EZCORP announced the pricing of its private offering of $300,000,000 aggregate principal amount of senior notes due 2032. The notes will bear interest at a rate of 7.375% per annum, payable semiannually on April 1 and October 1, beginning October 1, 2025. The offering was made to qualified institutional buyers and certain non-U.S. persons.
The company estimates net proceeds from the offering will be approximately $292.5 million, after deducting initial purchasers’ discounts and estimated offering expenses. This financing move is a significant step in strengthening the company's capital structure.
EZCORP expects to use approximately $103.4 million of the net proceeds to repay its outstanding 2.375% Convertible Senior Notes Due 2025 at maturity. Any excess proceeds will be allocated for general corporate purposes, providing financial flexibility for future operations and growth initiatives.
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