MoneyGram International, Inc.announced the pricing of its previously announced private offering of $415 million aggregate principal amount of 5.375% senior secured notes due 2026 (the “notes”) and related guarantees. The offering is expected to close on July 21, 2021, subject to customary closing conditions.
Read More: Verizon Business and Mastercard Partner to Bring 5G to the Global Payments Industry
The notes will be unconditionally guaranteed, jointly and severally, on a senior secured basis (collectively, the “guarantees”), initially by the Company’s subsidiaries that guarantee borrowings under the its contemplated new $400 million secured credit facility (the “New Credit Agreement”), which it expects to enter into substantially concurrently with the closing of the notes offering, and by certain future wholly owned domestic subsidiaries (the “guarantors”). The notes will be secured, on an equal and ratable, first-priority basis with obligations under our New Credit Agreement by liens on substantially all of the assets of the Company and the guarantors, subject to certain exceptions and intercreditor arrangements. There is no assurance that the Company will be able to consummate the notes offering or enter into the New Credit Agreement simultaneously with the issuance of the notes or at all.
The notes will mature on August 1, 2026. Interest on the notes will accrue at a rate of 5.375% per annum and will be payable semi-annually in arrears on February 1 and August 1 of each year, commencing on February 1, 2022, unless earlier redeemed or repurchased in accordance with their terms.
Read More: Govolution by Deluxe and Fulton Bank Announce Strategic Partnership
The notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to certain non-U.S. persons in compliance with Regulation S under the Securities Act. The issuance and sale of the notes and related guarantees have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction, and the notes and related guarantees may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees. Offers of the notes and related guarantees may only be made by means of a private offering memorandum, and may not be made to any person in any jurisdiction in which such offer, sale or solicitation is unlawful.
Read More: iPipeline Teams with Symetra to Insure Term Life Customers in Minutes
