Published on 5/3/2004 in the Prospect News High Yield Daily.
New Issue: Dollar Financial prices $21.2 million proceeds add-on to 9¾% notes due 2011 at 106
By Paul A. Harris
St. Louis, May 3 - Dollar Financial Group Inc. priced a $20 million face amount add-on Monday to its senior notes due Nov. 15, 2011 (B3/B) at 106 with a 9¾% coupon for an 8.37% yield to worst. The sale generated $21.2 million of proceeds.
Credit Suisse First Boston ran the books on the Rule 144A/Regulation S issue.
Proceeds will be used to take out about $20 million of holding company notes.
The original $220 million issue priced at par on Nov. 7, 2003.
The issuer is a Berwyn, Pa., franchisor of check cashing stores.
Issuer: | Dollar Financial Group Inc.
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Face amount: | $20 million
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Proceeds: | $21.2 million
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Security description: | Add-on to the senior notes due Nov. 15, 2011
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Maturity: | Nov. 15, 2011
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Bookrunner: | Credit Suisse First Boston
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Coupon: | 9¾%
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Price: | 106
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Yield to worst: | 8.37%
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Spread: | 467 basis points
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Call features: | Callable after Nov. 15, 2007 at 104.875, 102.438, par on Nov. 15, 2009 and thereafter
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Equity clawback: | Until Nov. 15, 2006 at 109.75 for up to 35%
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Pricing date: | May 3
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Settlement date: | May 6
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Ratings: | Moody's: B3
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| Standard & Poor's: B
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