goeasy Ltd. Closes US$400 Million Offering of Senior Unsecured Notes
MISSISSAUGA, ON, Feb. 23, 2024 /CNW/ - (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) ("goeasy" or the "Company"), one of Canada's leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of senior unsecured notes due 2029 (the "Notes").
- MISSISSAUGA, ON, Feb. 23, 2024 /CNW/ - (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) ("goeasy" or the "Company"), one of Canada's leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of senior unsecured notes due 2029 (the "Notes").
- In connection with the offering of the Notes, goeasy also entered into a currency swap agreement (the "Currency Swap") to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 7.195% per annum.
- Before giving effect to the Currency Swap, the coupon on the Notes is 7.625% per annum.
- goeasy will use the net proceeds from the sale of the Notes to partially repay indebtedness under its secured facilities and for general corporate purposes.