World Acceptance Announces Price of $ 300.0 Million Senior Notes Due 2026


GREENVILLE, South Carolina – (COMMERCIAL THREAD) – World Acceptance Corporation (NASDAQ: WRLD) (“World Acceptance” or “the Company”) today announced that it has priced its total principal amount of $ 300.0 million of prime bonds. rank maturing in 2026 (the “Bonds”) under its previously announced private offering based on an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will bear interest at the rate of 7.0% per annum. The Company expects to close the offer on or around September 27, 2021, subject to the satisfaction of customary closing conditions.

The Notes will be guaranteed on a senior unsecured basis by certain of World Acceptance’s existing subsidiaries which are borrowers or guarantors under the Company’s senior secured revolving credit facility (the “Revolving Credit Facility”). ).

World Acceptance intends to use the proceeds of the Note Offering to repay a portion of the outstanding borrowings under the Revolving Credit Facility and to pay transaction fees and related expenses. Proceeds used to repay a portion of the outstanding borrowings under the revolving credit facility will not reduce the commitments of lenders under the revolving credit facility. Amounts used to repay a portion of the outstanding borrowings under the Revolving Credit Facility may be re-borrowed, subject to the terms of the Revolving Credit Facility.

The Notes and associated collateral are only offered to qualified institutional purchasers under Rule 144A under the Securities Act, and to non-US persons under Regulation S under the Securities Act. The offering and sale of the Notes and related collateral has not been and will not be registered under the Securities Act or any state securities law, and unless so registered. , the Notes and related guarantees may not be offered or sold in the United States, except as an exemption from the registration requirements of the Securities Act and applicable state laws.

This press release is not an offer to sell or a solicitation of an offer to buy such securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale is made. unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of these securities will be made only by means of a private offering memorandum.

This press release is issued in accordance with Rule 135c of the Securities Act.

About World Acceptance Corporation

Founded in 1962, World Acceptance Corporation (NASDAQ: WRLD) is one of the nation’s largest consumer small loan companies, helping more than one million customers unlock their “financial good.” Based in Greenville, SC, and operating more than 1,200 community branches in 16 states, World Acceptance offers the strength and technology of a national financial institution with the personalized service of a neighborhood branch. Services include both fixed rate and payment personal loan solutions as well as the preparation and filing of personal income tax returns.

Caution regarding forward-looking information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on the beliefs and assumptions of management, as well as information currently available to management. Statements other than those of historical fact, as well as those identified by the words “anticipate”, “estimate”, “intend”, “plan”, “expect”, “believe”, “may” , “May”, “should”, “” would “,” could “,” continue “,” expect “, and any variation of the foregoing and similar expressions are forward-looking statements. Although the Company believes that expectations reflected in these forward-looking statements are reasonable, the Company cannot guarantee that such expectations will prove to be correct. Such statements are subject to certain risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if the assumptions under -concerned prove to be inaccurate, the actual financial results, performance or financial condition of the Company could differ materially from those anticipated, estimated or expected. Therefore, readers should not rely on any of these forward-looking statements. Additional information regarding these and other important factors that could cause actual results or performance to differ from expectations expressed or implied in these forward-looking statements is discussed in Part I, Section 1A. “Risk Factors” in the Company’s Most Recent Annual Report on Form 10-K for the Fiscal Year Ended March 31, 2021, as filed with the United States Securities and Exchange Commission (the “SEC” ), and other Company reports filed with, or provided to the SEC from time to time. The Company assumes no obligation to update any forward-looking statements it makes, except as required by law. The Company is also not responsible for the updating of the information contained in this press release beyond the date of publication, or for changes made to this document by communication services or Internet services.

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