goeasy Ltd. Closes US$550 Million Offering of Senior Unsecured Notes

MISSISSAUGA, Ontario, Nov. 28, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”). As announced on November 14, 2023, in connection with the offering of the Notes, goeasy also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 8.79% per annum. Before giving effect to the Currency Swap, the coupon on the Notes is 9.25% per annum. goeasy will use the proceeds from the sale of the Notes to fund the redemption of all of its outstanding 5.375% senior unsecured notes due 2024 (the “2024 Notes”).

About goeasy

goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by approximately 2,400 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omnichannel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through over 9,100 merchant partners across Canada. Throughout the Company’s history, it has acquired and organically served over 1.3 million Canadians and originated over $12.1 billion in loans.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including Waterstone Canada’s Most Admired Corporate Cultures, ranking on the 2022 Report on Business Women Lead Here executive gender diversity benchmark, placing on the Report on Business ranking of Canada’s Top Growing Companies, ranking on the TSX30, Greater Toronto Top Employers Award and has been certified as a Great Place to Work. The Company is represented by a diverse group of team members from 78 nationalities who believe strongly in giving back to communities in which it operates. To date, goeasy has raised and donated over $5.2 million to support its long-standing partnerships with BGC Canada and many other local charities.