Published on 11/13/2023 in the Prospect News Canadian Bonds Daily and Prospect News High Yield Daily.
New Issue: goeasy prices $550 million five-year senior notes at par to yield 9¼%
By Paul A. Harris
Portland, Ore., Nov. 13 – goeasy Ltd. priced a $550 million issue of five-year senior notes (Ba3/BB-) at par to yield 9¼% in a Monday drive-by, according to market sources.
The yield printed in the middle of yield talk in the 9¼% area.
The Mississauga, Ont.-based financial services provider plans to use the proceeds to fully redeem its 5 3/8% senior notes due 2024.
| Issuer: | goeasy Ltd.
|
| Amount: | $550 million
|
| Issue: | Senior notes
|
| Maturity: | Dec. 1, 2028
|
| Bookrunners: | RBC, BMO, Wells Fargo, NBC, CIBC and TD
|
| Coupon: | 9¼%
|
| Price: | Par
|
| Yield: | 9¼%
|
| First call: | Dec. 1, 2025 at 104.625
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9¼% area
|
| Marketing: | Drive-by
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
