secwatch.observer — SEC 8-K summary
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Issuer:     CURO Group Holdings Corp. (—)
CIK:        0001711291
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001104659-23-061433
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CURO closes $150M term loan at 18% interest and exchanges $682M existing notes for new 1.5 lien notes
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- Entered $150M First Lien Credit Agreement with 18% interest, maturing Aug 2027; proceeds used to repay prior credit facility.
- Exchanged $682.3M (68.2%) of existing 7.5% Senior Secured Notes for new 7.5% Senior 1.5 Lien Secured Notes due 2028.
- Canada SPV Facility provides C$110M initial borrowing capacity, secured by receivables, maturity 2025.
- Maintain minimum liquidity of $75M until Sep 2024, then $60M; minimum adjusted pre-tax income required.
- Amendments to other SPV credit facilities remove need for prior waivers on financial covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1711291/000110465923061433/0001104659-23-061433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1711291/000110465923061433/tm2315530d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-061433

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