TitleMax marketing $225 million offering of five-year first-lien notes

By Paul A. Harris

St. Louis, June 8 - TitleMax is holding a roadshow for a $225 million offering of five-year senior secured first-lien notes (B2/B+), according to an informed source.

The roadshow is set to conclude on June 17.

Jefferies & Co. has the books for the Rule 144A with registration rights offering.

The notes come with three years of call protection.

Proceeds will be used to repay existing debt.

TitleMax is a Savannah, Ga.-based auto title lending company with more than 550 company-owned stores serving individuals who generally have limited access to traditional sources of consumer credit. The loans that the company makes are secured by a first lien on the customer's automobile.

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