New Issue: Check 'N Go prices $60 million 13¾% notes due August 2015 at 94 to yield 15.551%

By Paul A. Harris

St. Louis, Oct. 21 - CNG Holdings, Inc., the parent of Check 'N Go, priced a $60 million issue of non-rated 13¾% five-year senior subordinated notes at 94.00 to yield 15.551% on Thursday, according to an informed source.

There was no official price talk.

Jefferies & Co. ran the books.

The Cincinnati-based payday loan service provider said it will use the proceeds for general corporate purposes.

Issuer:	CNG Holdings, Inc. (Check 'N Go)
Face amount:	$60 million
Proceeds:	$56.4 million
Securities:	Senior subordinated notes
Maturity:	Aug. 15, 2015
Bookrunner:	Jefferies & Co.
Coupon:	13¾%
Price:	94.00
Yield:	15.551%
Call features:	Make-whole call at Treasuries plus 50 bps until Sept. 30, 2013, then callable at, 107, 103.5, par on and after March 31, 2015
Equity clawback:	35% at 113.75 until Sept. 30, 2013
Trade date:	Oct. 21
Settlement date:	Oct. 26
Rating:	Not rated
Distribution:	Rule 144A and Regulation S for life
Price talk:	None
Marketing:	Quick to market

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