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DirectCash to price C$125 million seven-year notes following roadshow
By Cristal Cody
Prospect News, July 25 - DirectCash Payments Inc. is expected to price its offering of C$125 million of seven-year senior notes (B3/B/) the week of July 30 following a roadshow, according to a bond source.
The company announced plans on Monday to price the notes in conjunction with a C$65 million offering of common shares.
BMO Capital Markets Corp. is the bookrunner.
The notes will be offered in Canada and under Rule 144A on a private placement basis.
The deal is expected to close on Aug. 8.
The share offering includes 2.8 million common shares at C$23.35 each.
Proceeds from the notes and the common shares will be used to reduce DirectCash's outstanding senior and bridge debt from the acquisitions of Customers Ltd. in Australia and InfoCash Holdings Ltd. in the United Kingdom.
Calgary, Alta.-based DirectCash is a provider of ATMs, debit terminals and prepaid products.
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