Consent Solicitation
On February 1, 2019, CURO Group
Holdings Corp. (the Company) launched a consent solicitation of the holders (Holders) of all of its 8.250% Senior Secured Notes due 2025 (the Notes). The Company is requesting consent to implement one or more of
the Proposed Transactions and to provide a
one-time
waiver with respect to certain provisions contained in the indenture governing the Notes to permit the implementation of any of the
Proposed Transactions (the Proposed Waiver/Consent). The Proposed Waiver/Consent requires the receipt of consents from Holders holding a majority in aggregate principal amount of the outstanding Notes to become effective. For
a description of the Proposed Transactions, please see the Companys Current Report on Form
8-K,
filed with the Securities and Exchange Commission on January 31, 2019 which description is
incorporated herein by reference.
Promptly following the expiration of the consent solicitation, subject to the satisfaction or waiver of the conditions
set forth therein, the Company will pay to each Holder whose consents have been validly delivered (and not validly revoked) at or prior to the expiration of the consent solicitation, a cash payment of $10.00 per $1,000 in aggregate principal amount
of Notes held by such consenting Holder.
About CURO
CURO Group Holdings Corp. (NYSE: CURO), operating in three countries and powered by its fully integrated technology platform, is a market leader by revenues in
providing short-term credit to underbanked consumers. In 1997, the Company was founded in Riverside, California by three Wichita, Kansas childhood friends to meet the growing consumer need for short-term loans. Their success led to opening stores
across the United States and expanding to offer online loans and financial services across three countries. Today, CURO combines its market expertise with a fully integrated technology platform, omni-channel approach and advanced credit decisioning
to provide an array of short-term credit products across all mediums. CURO operates under a number of brands including Speedy Cash, Rapid Cash, Cash Money, LendDirect, Avío Credit, WageDayAdvance, Juo Loans, and Opt+. With over 20 years of
operating experience, CURO provides financial freedom to the underbanked.
Forward-Looking Statements
This current report contains forward-looking statements. These forward-looking statements include statements related to our expectations regarding the
Proposed Transactions in the United Kingdom, and proposed timing of these matters and our future outlook for our United Kingdom business. In addition, words such as as guidance, estimate,
anticipate, believe, forecast, step, plan, predict, focused, project, is likely, expect, intend, should,
will, confident, variations of such words and similar expressions are intended to identify forward-looking statements. Our ability to achieve these forward-looking statements is based on certain assumptions and
judgments, including decisions made by regulatory authorities in the United Kingdom. Our ability to execute on our business strategy and our ability to accurately predict our future financial results. These assumptions and judgments may prove to be
inaccurate in the future. These forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that are difficult to predict with regard to timing, extent, likelihood and degree of
occurrence. There are important factors both within and outside of our control that could cause our actual results to differ materially from those in the forward-looking statements. These factors include actions of regulators and the negative impact
of those actions on our business; errors in our internal forecasts; our level of indebtedness; our dependence on third-party lenders to provide the cash we need to fund our loans and our ability to affordably access third-party financing; our
ability to protect our proprietary technology and analytics and keep up with that of our competitors; disruption of our information technology systems that adversely affect our business operations; ineffective pricing of the credit risk of our
prospective or existing customers; inaccurate information supplied by customers or third parties would could lead to errors in judging customers qualifications to receive loans; improper disclosure of customer personal data; failure or third
parties who provide products, services or support to us; disruption to our relationships with banks and other third-part electronic payment solutions providers; disruption caused by employee or third-party theft and errors as well as other factors
discussed in our filings with the Securities and Exchange Commission. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual future results. We undertake no obligation
to update, amend or clarify any forward-looking statement for any reason.