Market Herald logo

Subscribe

Be the first with the news that moves the market
  • goeasy Ltd. (GSY) has closed its offering of US$320 million 4.375% senior unsecured notes
  • Proceeds will be deposited in an escrow account pending the closing of the company’s acquisition of LendCare Holdings Inc.
  • goeasy Ltd. provides non-prime leasing and lending services through its easyhome and easyfinancial divisions
  • goeasy Ltd. (GSY) is down 1.80 per cent, trading at C$143.25 per share at 12 pm ET

goeasy Ltd. (GSY) has closed its offering of US$320 million 4.375% senior unsecured notes maturing on May 1, 2026.

Proceeds from the sale of the notes will be deposited in an escrow account, pending the closing of the company’s previously announced acquisition of LendCare Holdings Inc. 

“We are pleased to have completed the issuance of our unsecured notes as part of the financing plan to support our recently announced acquisition of LendCare,” said Jason Mullins, goeasy’s President & Chief Executive Officer.

“The total demand, which was in excess of two times the size of our initial offering, is a testament to the strength of our business model and the confidence in the Company to execute this strategic investment,” added Mr. Mullins.

“The 5-year 4.375% notes also marked an improvement in our cost of funding, with the coupon rate reducing by a full one percentage point from the last notes offering completed less than 18 months ago. Furthermore, this capital raise contributes to realizing a portion of our previously stated synergies related to the transaction.”

goeasy Ltd. is a Canadian company that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions.

goeasy Ltd. (GSY) is down 1.80 per cent, trading at C$143.25 per share at 12 pm ET.

More From The Market Herald

" MINT Income Fund (TSX:MID.UN) announces NCIB

MINT Income Fund (MID.UN) has received approval for a normal course issuer bid (NCIB).

" Stockhouse @ the Bell: Bay St. up … Wall St. down

It was almost another day in the red for Canada’s main stock index on Thursday, but weaker crude prices turned around by midday

" Brookfield Asset Management (TSX:BAM.A) renews NCIB

Brookfield Asset Management (BAM.A) has received approval from the TSX to renew its normal course issuer bid.
Tenet Fintech Group - CEO of Tenet Asia, Liang Qiu.

" Tenet Fintech (CSE:PKK) partners with China’s largest insurer

Tenet (PKK) has launched the first insurance policy exclusive to its Heartbeat platform.