Mr. David Ingram reports
GOEASY LTD. ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES
goeasy Ltd. plans to offer, subject to market and other conditions, senior unsecured notes that will have 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 7.875-per-cent unsecured notes due 2022 issued on Nov. 1, 2017.
goeasy intends to use the net proceeds from the sale of the notes to expand its consumer loan portfolio, for general corporate purposes, and to pay fees and expenses of the offering of the notes, including fees associated with entering into a currency swap agreement.
The notes will be guaranteed on a senior unsecured basis by certain of goeasy's current and future subsidiaries that are guarantors under the company's senior secured revolving credit facility.
goeasy is a leading full-service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, today. goeasy serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lender that bridges the gap between traditional financial institutions and costly payday lenders. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores.
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