Friday 29 July 2016

DFC Finance Corp. Extends Exchange Offer for Outstanding Senior Secured Notes – Business Wire (press release)

MALVERN, Pa.–()–DFC Global Corp. introduced right now that its wholly-owned subsidiary DFC
Finance Corp. (“DFC Finance”) is extending the Expiration Time and
Withdrawal Deadline (as outlined under) for its personal supply to Eligible
Holders (as outlined under) to change any and all of DFC Finance’s
$800,000,000 excellent principal quantity of 10.500% Senior Secured
Notes due 2020 (the “Existing Notes”) and any curiosity accrued thereon
from June 15, 2016 (“Accrued Interest”) for as much as $800,000,000 principal
quantity of its newly issued 12.000% Senior Secured PIK Toggle Notes due
2020 (the “New Notes” and such supply to trade, the “Exchange Offer”)
plus further New Notes to be issued in respect of Accrued Interest.

The Exchange Offer was beforehand scheduled to run out at 5:00 p.m. (New
York City time), on July 28, 2016, until prolonged. As of 5:00 p.m. (New
York City time) on July 28, 2016, $221,311,000 combination principal
quantity, or 27.66% of the excellent Existing Notes, had been validly
tendered for trade for New Notes within the Exchange Offer and never
validly withdrawn. Of such principal quantity, roughly $196.zero
million had been tendered by an affiliate of Lone Star Funds. The new
expiration time of the Exchange Offer is 5:00 p.m. (New York City time)
on August 5, 2016, until additional prolonged by DFC Finance (the
“Expiration Time”). The Withdrawal Deadline, which beforehand expired on
July 28, 2016, will now happen at 5:00 p.m. (New York City time) on
August 5, 2016, which can also be the Expiration Time. The “Withdrawal
Deadline” is the time after which Existing Notes validly tendered for
trade might not be withdrawn, until such time is prolonged by DFC
Finance or until required by law. The Settlement Date, which was
scheduled to happen on or about August 2, 2016, has been prolonged to
happen on or about August 10, 2016.

All different phrases of the Exchange Offer stay unchanged.

             
CUSIP Nos.  

Principal
Amount
Outstanding

 

Title of
Existing
Notes to be

Exchanged

  Principal Amount of New Notes(1)

Exchange
Consideration

Early
Tender
Premium

Total Exchange
Consideration(2)

23320A AA0

U24458 AA6

$800,000,000

10.500%
Senior Secured
Notes due
2020

$970 $30 $1,000
 

(1) For every $1,000 principal quantity of Existing Notes and
excluding accrued and unpaid curiosity, which shall be
paid, as
described within the Offer Documents, in New Notes (rounded right down to
the closest $1) along with the
Exchange Consideration or
Total Exchange Consideration, as relevant.

(2) Includes the Early Tender Premium.

 

The Exchange Offer is being carried out by DFC Finance upon the phrases and
topic to the circumstances set forth within the providing memorandum dated
June 27, 2016, as supplemented by Supplement No. 1 thereto, dated July
12, 2016 (“Supplement No. 1”) and Supplement No. 2 thereto, dated July
27, 2016 (“Supplement No. 2”) (as supplemented by Supplement No. 1 and
Supplement No. 2, the “Offering Memorandum”) and associated letter of
transmittal (collectively, the “Offer Documents”). The Exchange Offer is
solely prolonged, and copies of the Offer Documents have solely been and can
solely be made obtainable, to holders of Existing Notes which have licensed
their standing as (1) “qualified institutional buyers” as outlined in Rule
144A underneath the Securities Act of 1933, as amended (the “Securities
Act”), or (2) individuals that aren’t “U.S. persons” inside the which means of
Regulation S underneath the Securities Act who’re eligible to accumulate the
securities pursuant to Regulation S of the Securities Act (“Eligible
Holders”).

The Exchange Offer is topic to sure circumstances as described within the
Offer Documents.

The full phrases of the Exchange Offer are described within the Offer
Documents. DFC Finance expressly reserves the fitting, in its sole and
absolute discretion, topic to relevant law, to additional prolong,
terminate or in any other case amend the phrases of the Exchange Offer or to
reject any Existing Notes which are tendered within the Exchange Offer.

If and when issued, the New Notes won’t be registered beneath the
Securities Act or any state securities legal guidelines. Therefore, the New Notes
will not be provided or bought within the United States absent registration or
an relevant exemption from the registration necessities of the
Securities Act and any relevant state securities legal guidelines.

Documents referring to the Exchange Offer might be distributed solely to
holders of the Existing Notes that full and return a letter of
eligibility confirming that they’re Eligible Holders. Holders of the
Existing Notes that want to evaluate the eligibility letter might go to
the web site for this objective at http://gbsc-usa.com/eligibility/DFC
or contact Global Bondholder Services Corporation, the knowledge agent
for the Exchange Offer, by calling toll-free (866) 470-4500 or at (212)
430-3774 (banks and brokerage companies).

* * *

This press launch is just not a suggestion to promote or a solicitation of an
supply to purchase any safety. The Exchange Offer is being made solely by
the Offer Documents and solely to such individuals and in such jurisdictions
as is permitted beneath relevant law. In specific, this communication
is simply addressed to and directed at: (A) in any Member State of the
European Economic Area which has carried out the Prospectus Directive
(every, a “Relevant Member State”), (i) any legal entity which is a
“qualified investor” as outlined within the Prospectus Directive and/or (ii)
fewer than 100 or, if the Relevant Member State has carried out the
related provision of the 2010 PD Amending Directive, 150, individuals
(aside from “qualified investors” as outlined within the Prospectus
Directive), as permitted underneath the Prospectus Directive, topic to
acquiring the prior consent of the representatives of the supplier
managers for any such supply; and (B) (i) topic to relevant legal guidelines and
any necessities set out herein, individuals which are outdoors the United
Kingdom or (ii) individuals within the United Kingdom which are “certified
buyers” as outlined within the Prospectus Directive and are additionally (a)
individuals having skilled expertise in issues referring to
investments falling inside the definition of “investment professionals”
beneath Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the “Order”) or (b) excessive
internet value our bodies company, unincorporated associations and partnerships
and trustees of excessive worth trusts as described in Article 49(2) of the
Order, and different individuals to whom it might lawfully be communicated (every
such individual being a “relevant person”). The New Notes are solely obtainable
to, and any invitation, supply or settlement to subscribe, buy or
in any other case purchase such New Notes shall be engaged in solely with, related
individuals. Any one that is just not a related individual shouldn’t act or rely
on this doc or any of its contents.

This press launch incorporates ahead-wanting statements. These
ahead-wanting statements, that are often accompanied by phrases such
as “may,” “might,” “will,” “should,” “could,” “intends,” “estimates,”
“forecast,” “predicts,” “potential,” “continue,” “believes,”
“anticipates,” “plans,” “expects” and comparable expressions, contain dangers
and uncertainties, and relate to, with out limitation, statements about
our market alternatives, anticipated enhancements or challenges in
operations, regulatory developments, our plans, earnings, money movement and
expense estimates, methods and prospects, each enterprise and
monetary. Readers are cautioned to not place undue reliance on these
ahead-wanting statements, which converse solely as of the date on which
they’re made, and, besides as in any other case required by law, we disclaim any
obligation or enterprise to disseminate any replace or revision to any
ahead-wanting assertion contained herein to mirror any change in our
expectations with regard thereto or any change in occasions, circumstances or
circumstances on which any such assertion is predicated. Factors that would
trigger precise outcomes to vary materially from these ahead-wanting
statements embrace, however are usually not restricted to, whether or not or not DFC Finance
will finally consummate the Exchange Offer, the satisfaction of the
circumstances described within the Offering Memorandum and market circumstances.

About DFC Global Corp.

DFC Global Corp. and its associates are main worldwide non-financial institution
suppliers of other monetary providers, principally unsecured
brief-time period shopper loans, secured pawn loans, verify cashing, gold
shopping for, cash transfers and reloadable pay as you go debit playing cards, serving
primarily unbanked and underbanked shoppers by way of their roughly
1,200 present retail storefront places and their a number of Internet
platforms in 9 nations throughout Europe and North America: the United
Kingdom, Canada, the United States, Sweden, Finland, Poland, Spain,
Romania, and the Republic of Ireland. Our affiliated networks of retail
places within the United Kingdom and Canada are the most important of their type
by income in every of these nations. The Company believes that its
clients, lots of whom obtain revenue on an irregular foundation or from
a number of employers, select to conduct their private monetary enterprise
with the Company moderately than with banks or different monetary establishments
because of the vary and comfort of providers that it gives, the
a number of methods through which they could conduct enterprise with the Company, and
its excessive-high quality customer support. The Company’s services,
principally its unsecured brief-time period shopper loans, secured pawn loans
and verify cashing and gold shopping for providers, present clients with
handy entry to money for dwelling bills and different wants. In
addition to those core choices, the Company strives to supply its
clients further excessive-worth ancillary providers, together with Western
Union® cash orders and cash transfers, reloadable VISA® and
MasterCard® pay as you go debit playing cards and overseas foreign money trade.


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