Consent Solicitation
As previously announced on the Company’s Current Report on Form8-K, filed with the Securities and Exchange Commission on February 1, 2019 (incorporated herein by reference), on February 1, 2019, CURO Group Holdings Corp. (the “Company”) launched a consent solicitation of the holders (“Holders”) of all of its 8.250% Senior Secured Notes due 2025 (the “Notes”) requesting consent to implement one or more of the “Proposed Transactions” and to provide aone-time waiver with respect to certain provisions contained in the indenture governing the Notes to permit the implementation of any of the “Proposed Transactions” (the “Proposed Waiver/Consent”). For a description of the “Proposed Transactions,” please see the Company’s Current Report on Form8-K, filed with the Securities and Exchange Commission on January 31, 2019, which description is incorporated herein by reference. On February 8, 2019, the Company received consents to the Proposed Waiver/Consent from Holders holding a majority in aggregate principal amount of the outstanding Notes and the Proposed Waiver/Consent became effective.
In connection with the consummation of the consent solicitation, Holders of $680,578,000 aggregate principal amount of Notes delivered valid consents at or prior to the expiration of the consent solicitation, and a cash payment of $10.00 per $1,000 in aggregate principal amount of Notes will be paid to such consenting Holders.
About CURO
CURO Group Holdings Corp. (NYSE: CURO), operating in three countries and powered by its fully integrated technology platform, is a market leader by revenues in providing short-term credit to underbanked consumers. In 1997, the Company was founded in Riverside, California by three Wichita, Kansas childhood friends to meet the growing consumer need for short-term loans. Their success led to opening stores across the United States and expanding to offer online loans and financial services across three countries. Today, CURO combines its market expertise with a fully integrated technology platform, omni-channel approach and advanced credit decisioning to provide an array of short-term credit products across all mediums. CURO operates under a number of brands including Speedy Cash, Rapid Cash, Cash Money, LendDirect, Avío Credit, WageDayAdvance, Juo Loans, and Opt+. With over 20 years of operating experience, CURO provides financial freedom to the underbanked.
