EZCorp repays outstanding borrowings, terminates credit agreement

By Marisa Wong

Madison, Wis., June 24 – EZCorp, Inc. used about $119 million of proceeds from a note offering to repay all outstanding borrowings under its credit agreement dated May 10, 2011, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Bank, NA was the administrative agent and BBVA Compass Bank was the syndication agent for the credit agreement, which has been terminated.

Austin, Texas-based EZCorp operates pawn stores and short-term consumer loan stores. The company recently issued $200 million of 2.125% convertible notes due 2019.

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