debt
confidence high
sentiment neutral
materiality 0.70
World Acceptance prices $300M 7.000% senior notes due 2026 to repay revolver
WORLD ACCEPTANCE CORP
- $300M aggregate principal of 7.000% senior notes due November 1, 2026, priced on Sep 22, 2021.
- Net proceeds used to repay a portion of outstanding borrowings under the revolving credit facility.
- Credit facility commitments increased from $685M to $785M via ABL amendment on Sep 27, 2021.
- Notes are unsecured, guaranteed by certain existing subsidiaries; redeemable at make-whole prior to Nov 1, 2023.
- Offering closed on Sep 27, 2021; exempt from Securities Act registration (Rule 144A/Regulation S).