CURO Group Holdings Corp. Announces $ 750 million increase and price increase for Senior Secured Notes | Companies

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WICHITA, Kan .– (BUSINESS WIRE) – Dec. July 2021–

CURO Group Holdings Corp. (NYSE: CURO) (“CURO” or the “Company”) today announced the pricing of its previously announced offering and increased its offering of 700 million Secured Notes due 2028 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) and to non-US persons pursuant to Regulation S under the Securities Act.

The bonds bear an interest rate of 7.500% pa, payable semi-annually on February 1 and August 1 of each year, starting on February 1, 2022. The bonds are secured by liens on essentially all company assets and the assets of the guarantors, subject to certain exceptions and permissible liens. The Notes mature on August 1, 2028 unless they are redeemed or repurchased earlier.

The offering of the Notes is expected to end on July 30, 2021, subject to customary closing conditions. The net proceeds from the sale of the Notes will be used (i) to repay the outstanding 8.250% of the Company’s Senior Secured Notes maturing in 2025, (ii) to pay fees, expenses, premiums and accrued interest in connection therewith, and (iii) for general corporate purposes.

The Notes and their guarantees will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security, nor will any sale of any Notes or other security take place in any state or jurisdiction in which such offer, solicitation or solicitation of sale is being made would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. All offers of the Notes will only be made by means of a private offer memorandum. This press release is issued in accordance with and in accordance with Rule 135c of the Securities Act. This press release contains information about pending transactions and no assurance can be given that these transactions will be completed.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements contain statements about projections, estimates and assumptions about the total amount of the promissory note offering and other terms and conditions and the use of the proceeds. In addition, words such as “guidance”, “estimate”, “anticipate”, “believe”, “forecast”, “step”, “plan”, “predict”, “focused”, “project”, “likely” “expect” “,” Intend “,” should “,” become “,” confident “, variations of such words and similar expressions are intended to identify forward-looking statements. The ability to make these forward-looking statements is based on certain assumptions, judgments and other factors, both within and beyond our control, that could cause actual results to differ materially from those in the forward-looking statements, including: market changes, conditions for Bond offers and other macroeconomic conditions; Errors in our internal forecasts; the impact of competition on the company’s business; our ability to attract and retain customers; Market, financial, political and legal framework; Actions taken by regulators and the negative impact these actions have on our business; the future impact of a COVID-19 pandemic or other similar widespread event on the Company’s business and the global economy; our reliance on outside lenders to provide the cash needed to fund our loans and our ability to access affordable third party funding; our indebtedness; our ability to integrate acquired businesses; our ability to protect our proprietary technologies and analytics and to keep up with those of our competitors; Disruption to our information technology systems that adversely affects our business operations; ineffective assessment of the credit risk of our potential or existing customers; inaccurate information from customers or third parties that could lead to errors in assessing the creditworthiness of customers; improper disclosure of personal customer data; Failure of third parties to provide products, services or support to us; any failure by third party lenders on whom we rely to do business in certain states; Interruption of our relationships with banks and other third party electronic payment solution providers; and other factors discussed in our filings with the Securities and Exchange Commission. These forecasts, estimates and assumptions may prove to be incorrect 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 the timing, extent, probability and degree of occurrence. There may be additional risks that we are not currently aware of or that we currently consider to be immaterial and which could also mean that the actual results differ from those contained in the forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of actual future results. We do not assume any obligation to update, supplement or clarify any forward-looking statements for any reason.

About CURO

The CURO Group Holdings Corp. (NYSE: CURO) serves the evolving needs of financial consumers. The company was founded in Riverside, California in 1997 by three childhood friends from Wichita, Kansas to meet growing consumer needs for short-term credit. Their success led to the opening of stores in the United States, which were later expanded to offer online credit and financial services in the United States and Canada, and which are now available through the point-of-sale / buy-now-pay channel . CURO combines its market expertise with fully integrated technology platforms, an omni-channel approach and advanced credit decisions to offer a range of credit products across all media. CURO operates under a number of brands including Speedy Cash®, Rapid Cash®, Cash Money®, LendDirect®, Flexiti®, Avío Credit®, Opt + ® and Revolve Finance®. With over 20 years of operating experience, CURO offers non-prime customers financial freedom.

(CURO-NWS)

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CONTACT: Investor Relations:

Roger Dean

Executive Vice President, Chief Financial Officer and Acting Chief Accounting Officer

Phone: 844-200-0342

Email: [email protected]

Or

Financial Profiles, Inc.

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA KANSAS

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: CURO Group Holdings Corp.

Copyright Business Wire 2021.

PUB: 07/16/2021 4:47 p.m. / DISC: 07/16/2021 4:47 p.m.

http://www.businesswire.com/news/home/20210716005471/en

Copyright Business Wire 2021.



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