Cash Converters plans note offer

Lender wants to raise up to $60 million to repay bank facilities, fund investment.

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.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles