FIRSTCASH, INC. (NYSE:FCFS) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
pricing of $300,000,000 in aggregate principal amount of senior
notes due 2024 (the Notes). The Notes will pay interest
semi-annually at a rate of 5.375% per annum payable on June 1 and
December 1 of each year beginning on December 1, 2017.
obligations of the Company and will have materially similar
covenants to the current senior notes due 2021, except that the
covenants restricting dividends and share repurchases (generally
referred to as restricted payments) will be relaxed. In particular
and in addition to certain customary restricted payment baskets,
the indenture that will govern the Notes will permit the Company to
make share repurchases of up $100 million with the net proceeds of
the Notes and other available funds and to make restricted payments
in an unlimited amount if, after giving pro forma effect to the
incurrence of any indebtedness to make such payment, the Company’s
consolidated total debt ratio is less than 2.25 to 1.00. The
Companys consolidated total debt ratio will be generally defined in
the indenture governing the Notes as the ratio of (1) the total
consolidated debt of the Company minus cash and cash equivalents of
the Company to (2) the Companys consolidated EBITDA, as adjusted to
exclude certain non-recurring expenses and giving pro forma effect
to operations acquired during the measurement period, for the most
recently ended four full fiscal quarters for which internal
financial statements are available immediately preceding the date
on which such event for which such calculation is being made.
Form 8-K to comply with Regulation FD. Such information shall not
be deemed to be “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject
to the liabilities of that section, and shall not be deemed to be
incorporated by reference into any of the Company’s filings under
the Securities Act of 1933, as amended, or the Securities Exchange
Act of 1934, as amended, whether made before or after the date
hereof and regardless of any general incorporation language in such
filings, except to the extent expressly set forth by specific
reference in such a filing.
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(d) Exhibits:
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99.1
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Press release, dated May 18, 2017, announcing the
pricing of the Notes. |
About FIRSTCASH, INC. (NYSE:FCFS)
FirstCash, Inc., formerly First Cash Financial Services, Inc., is an operator of retail-based pawn stores in the United States and Mexico. The Company’s primary business is the operation of pawn stores, which make small pawn loans secured by personal property. Its pawn stores generate retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. The Company’s pawn stores are a source for small consumer loans to help customers meet their short-term cash needs. In addition, some of its pawn stores offer small consumer loans or credit services products. As of December 31, 2015, the Company had 1,075 locations, consisting of 338 stores across 14 states of the United States, 705 stores across 29 states in Mexico and 32 stores in Guatemala. It operates a number of standalone consumer finance stores in Texas and Mexico, which provide consumer financial services products, including credit services and small unsecured consumer loans. FIRSTCASH, INC. (NYSE:FCFS) Recent Trading Information
FIRSTCASH, INC. (NYSE:FCFS) closed its last trading session up +0.05 at 54.05 with 292,405 shares trading hands.
