Dollar Financial Corp. Launches $350 Million Private Offering of Senior Notes
December 01 2009 - 4:00PM
Business Wire
Dollar Financial Corp. (NASDAQ: DLLR), a leading international
diversified financial services company primarily serving unbanked
and under-banked consumers for nearly 30 years, today announced
that, subject to market and other conditions, on December 2, 2009,
its indirect wholly owned Canadian subsidiary, National Money Mart
Company, intends to offer $350 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, and to prepay $100 million of its existing
term loans pursuant to a proposed amendment and extension of its
existing credit agreement. The remainder of the proceeds will be
utilized for general corporate purposes, which could include
funding additional growth opportunities. The Company expects to
consummate the offering in December 2009.
The Notes will be offered only to qualified institutional buyers
in reliance on an 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, 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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