Dollar Financial Corp. Announces Proposed $250 Million Private Offering of Senior Unsecured Notes
November 11 2009 - 8:00PM
Business Wire
Dollar Financial Corp. (NASDAQ:DLLR), announced today that it
intends, subject to market and other conditions, to offer through
its indirect wholly owned subsidiary National Money Mart Company,
$250 million aggregate principal amount of senior notes (the
“Notes”) in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”). The Notes will be fully and unconditionally
guaranteed, on a senior unsecured basis, by Dollar Financial Corp.
and certain of its current and future direct and indirect wholly
owned U.S. and Canadian subsidiaries.
Dollar Financial Corp. intends to use a portion of the net
proceeds of the offering to finance the previously announced
acquisition by its wholly owned subsidiary, Dollar Financial Group,
Inc., of Military Financial Services, LLC.
The Company expects to commence and consummate the offering in
December 2009. The Notes will be offered only to qualified
institutional buyers in reliance on the exemption from registration
provided by Rule 144A under the Securities Act and to certain
persons in offshore transactions in reliance on Regulation S under
the Securities Act. The Notes have not been registered under the
Securities Act, or the securities laws of any state or other
jurisdiction, and may not be offered or sold in the United States
without registration or an applicable exemption from the Securities
Act.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase the Notes and shall not
constitute an offer, solicitation or sale in any state or
jurisdiction in which, or to any person to whom, such an offer,
solicitation or sale would be unlawful. Any offers of the Notes
will be made only by means of a private offering circular.
About Dollar Financial Corp
Dollar Financial Corp is a leading diversified international
financial services company primarily serving unbanked and
under-banked consumers. Its customers are typically service sector
individuals who require basic financial services but, for reasons
of convenience and accessibility, purchase some or all of their
financial services from the Company rather than from banks and
other financial institutions. To meet the needs of these customers,
the Company provides a range of consumer financial products and
services primarily consisting of check cashing, short-term consumer
loans, pawn lending, Western Union money order and money transfer
products, currency exchange, gold buying, reloadable VISA® and
MasterCard® branded debit cards, electronic tax filing, and bill
payment services.
At September 30, 2009, the Company’s global store network
consisted of 1,188 stores, including 1,032 company-operated
financial services stores and 156 franchised and agent locations in
the United States, Canada, United Kingdom, Republic of Ireland, and
Poland. The financial services store network is the largest network
of its kind in each of Canada and the United Kingdom and the
second-largest network of its kind in the United States. The
Company’s customers, many of whom receive income on an irregular
basis or from multiple employers, are drawn to the convenient
neighborhood locations, extended operating hours and high-quality
customer service. The Company’s financial products and services,
principally check cashing, money transfer, pawn lending and
short-term consumer loan programs, provide immediate access to cash
for living expenses or other needs. For more information, please
visit the Company's website at www.dfg.com.
Forward Looking Statement
This news release contains forward looking statements. There can
be no assurances that the offering of the Notes will be completed
as described herein or at all. Certain important factors could
cause the Company not to issue the Notes, including the impact of
changing economic or business conditions, the failure of the
Company to obtain the required consent of its senior lenders,
unfavorable interest rates and other risk factors discussed from
time to time in the reports filed by the Company with the
Securities and Exchange Commission. You should not place any undue
reliance on any forward-looking statements. We disclaim any
obligation to update any such factors or to publicly announce
results of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.
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