Cash Converters International (CCV) plans to raise $50 million to $60 million in an unsecured note offering by the end of the month to diversify its debt funding sources and increase the maturity profile of its debt position.
In a statement to the Australian Securities Exchange, the group said the indicative coupon for the offer was 7.95% per annum, payable semi-annually in arrears.
The notes will be issued in denominations of $1,000, subject to a minimum subscription of $50,000, with an indicative term of five years.
The lead arranger for the transaction is FIIG Securities Ltd and the offering is open only to eligible professional and sophisticated investors.
The group said proceeds will be used to repay part of its existing bank facilities and fund further investment opportunities as they arise.
Cash Converters is part of the Uncapped 100.