EZCORP Inc., a prominent provider of pawn transactions in the United States and Latin America, has successfully closed a private offering of $300 million in senior notes. The notes, which carry a 7.375% interest rate, are set to mature in 2032.
The financial transaction will enable EZCORP to strategically manage its debt portfolio. Specifically, the company intends to use approximately $103.4 million of the net proceeds to repay its outstanding 2.375% convertible senior notes due in 2025 at their maturity. Any excess proceeds will be allocated to general corporate purposes.
Roth Capital Partners played a crucial role in the transaction, serving as a co-manager for the offering. This financial maneuver underscores EZCORP’s commitment to maintaining a robust and flexible financial structure.
Founded in 1989, EZCORP has established itself as a leading provider of pawn transactions, serving markets in the United States and Latin America. The company not only offers pawn lending services but also sells pre-owned and recycled merchandise primarily acquired through collateral forfeiture and customer sales.
EZCORP’s business model focuses on addressing the short-term cash needs of consumers who face constraints in accessing traditional credit. By providing an industry-leading customer experience, the company has positioned itself as a critical financial service provider for underserved markets.
Currently traded on NASDAQ under the symbol EZPW, EZCORP is a component of both the S&P 1000 Index and Nasdaq Composite Index, reflecting its significant market presence and financial stability.
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