Dollar Financial buys back $15 million 2.875% convertibles at discount

By Jennifer Chiou

New York, Feb. 18 - Dollar Financial Corp. repurchased $15 million of its 2.875% senior convertible notes due 2027 at 91% of par, according to an 8-K filing with the Securities and Exchange Commission.

The purchase price paid in the privately negotiated transaction was $13.65 million.

As announced in December, the company agreed to exchange $100 million of the notes for an equal principal amount of new 3% senior convertible notes due April 1, 2028.

Now, $65 million of the 2.875% convertibles remains outstanding.

Dollar Financial is a Berwyn, Pa.-based provider of financial services.

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