Joint Lead Manager
FirstCash, Inc.
Debt Capital Markets
Senior Unsecured Notes
Transaction Details
- On February 21, 2024, FirstCash Holdings, Inc. (Nasdaq: FCFS) (the “Company” or “FirstCash”) closed its previously announced private offering of $500 million of 6.875% Senior Notes due 2032 (the “Notes”) issued by the Company’s wholly-owned subsidiary, FirstCash, Inc. (the “Issuer”).
- The Notes will pay interest semi-annually at a rate of 6.875% per annum.
- The Issuer may redeem some or all of the Notes on or after March 1, 2027.
- FirstCash intends to use the proceeds from the offering to repay a portion of FirstCash’s outstanding borrowings under its revolving credit facility, after payment of fees and expenses related to the offering.
- The Notes were offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933.
About the company
FirstCash Holdings, Inc., the parent of FirstCash, Inc., is the leading international operator of pawn stores and a leading provider of technology-driven point-of-sale payment solutions, both focused on serving cash and credit-constrained consumers. FirstCash’s approximately 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash, through its wholly owned subsidiary, American First Finance, also provides lease-to-own and retail finance payment solutions for consumer goods and services through a nationwide network of approximately 11,600 active retail merchant partner locations. For more information, please visit www.firstcash.com.
Sources: Company Filings and Press Release.
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