goeasy Ltd. Announces Proposed Offering of US$320 Million of Senior Unsecured Notes
The actual terms of the Notes, including interest rate, will depend on market conditions at the time of pricing. Concurrently with the offering, goeasy expects to enter into a currency swap agreement (the “Currency Swap”) to fix the foreign currency exchange rate for the proceeds from the offering and for all required payments of principal and interest under the Notes.
The gross proceeds from the sale of the Notes will be deposited in an escrow account in the name of the Company but controlled by, and pledged in favor of,
If the Acquisition is not completed by
The Notes are expected to be guaranteed on a senior unsecured basis by certain of goeasy’s current and future subsidiaries.
The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and the Notes may not be offered or sold in
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
goeasy Ltd., a Canadian company, headquartered in
Accredited by the
goeasy’s common shares are listed on the TSX under the trading symbol “GSY”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. Visit www.goeasy.com.
Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the Company. Some of the specific forward-looking statements contained herein include, but are not limited to, statements with respect to the expectations regarding the completion and the use of proceeds of the Notes offering, the closing of the Acquisition on the terms and conditions described herein, the guarantee of the Notes by certain of goeasy’s current and future subsidiaries, and the entry into and effect of the Currency Swap. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, readers are cautioned not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors, including the risks described under the heading “Risk Factors” in our annual information form and management’s discussion and analysis for the year ended
For further information contact:
President & Chief Executive Officer
Senior Vice President, Corporate Development & Investor Relations