04:15:36 EDT Wed 16 Jul 2025
Enter Symbol
or Name
USA
CA



goeasy Ltd
Symbol GSY
Shares Issued 16,801,409
Close 2024-10-21 C$ 182.48
Market Cap C$ 3,065,921,114
Recent Sedar Documents

goeasy prices $400M (U.S.) in notes at 6.875%

2024-10-21 18:36 ET - News Release

Mr. Jason Mullins reports

GOEASY LTD. ANNOUNCES PRICING OF PREVIOUSLY ANNOUNCED OFFERING OF SENIOR UNSECURED NOTES AND UPSIZING OF USD NOTES TO US$400-million

goeasy Ltd. has priced $400-million (U.S.) aggregate principal amount of 6.875 per cent senior unsecured notes due 2030 (the United States-dollar notes), an increase from the previously announced transaction size of $350-million (U.S.), and $150-million aggregate principal amount of 6.000 per cent senior unsecured notes due 2030. The notes will be guaranteed on a senior unsecured basis by certain of goeasy's current and future subsidiaries. Concurrently with the offering, goeasy expects to enter into a currency swap agreement to fix the foreign currency exchange rate for the proceeds from the offering of the U.S.-dollar notes, which it expects will reduce the effective cost of borrowing of the U.S.-dollar notes when converted into Canadian currency.

goeasy estimates the net proceeds from the offering will be approximately $693.6-million, based on the Bank of Canada daily rate on Oct. 18, 2024, for the Canadian dollar/U.S. dollar exchange rate, after deducting fees and estimated offering expenses, and subject to adjustment as a result of the currency swap. goeasy intends to use the net proceeds from the sale of the notes to finance the previously announced cash tender offer to purchase any and all of its outstanding 4.375 per cent senior unsecured notes due 2026, partially repay indebtedness under its secured facilities, and for general corporate purposes. This press release shall not constitute an offer to purchase any of the 2026 notes.

The offering of the notes is expected to close on Nov. 4, 2024, subject to customary closing conditions.

About goeasy Ltd.

goeasy is a Canadian company, headquartered in Mississauga, Ont., that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by over 2,500 employees, the company offers a wide variety of financial products and services, including unsecured and secured instalment loans, merchant financing through a variety of verticals, and lease-to-own merchandise. Customers can transact seamlessly through an omnichannel model that includes on-line and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, power sports, automotive, home improvement and health care verticals, through over 10,300 merchant partners across Canada. Throughout the company's history, it has acquired and organically served over 1.4 million Canadians and originated over $14.3-billion in loans.

goeasy's common shares are listed on the Toronto Stock Exchange under the trading symbol GSY.

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