debt
confidence high
sentiment neutral
materiality 0.70
EZCORP prices $200M convertible notes due 2029 at 3.75%, upsized from $175M
EZCORP INC
- Principal $200M; initial purchasers have option for additional $30M.
- Notes bear 3.75% interest semi-annual; mature December 15, 2029.
- Initial conversion price ~$11.23 per share (30% premium over $8.64 close).
- Net proceeds ~$193.7M; ~$182M to repurchase existing 2.875% 2024 and 2.375% 2025 notes.
- Also ~$5M concurrent share repurchases; excess for general corporate purposes.