FirstCash Launches $600M Private Placement of Unsecured Senior Notes Due 2034
FirstCash’s subsidiary has launched a private placement of $600 million of unsecured senior notes due 2034, guaranteed by FirstCash and its domestic subsidiaries. Net proceeds will repay outstanding credit facility borrowings to enhance liquidity for future growth after fees and expenses.
1. Offering Details
FirstCash’s wholly-owned subsidiary, FirstCash, Inc., has commenced a private placement of $600 million aggregate principal amount of unsecured senior notes due 2034.
2. Use of Proceeds
FirstCash intends to use net proceeds to repay a portion of outstanding credit facility borrowings and enhance liquidity to support future growth initiatives.
3. Guarantee and Security
The notes will be unsecured senior obligations of the issuer, guaranteed by FirstCash and its domestic subsidiaries that back its revolving credit facility and existing senior notes.
4. Placement Conditions
The offering is available only to qualified institutional buyers under Rule 144A or non-US persons under Regulation S and remains subject to market and other customary conditions.