goeasy Ltd T.GSY

New Press Release - goeasy Ltd. Announces Pricing of US$400 Million of Senior Unsecured Notes

MISSISSAUGA, ON, Feb. 20, 2024 /CNW/ - goeasy Ltd. (TSX: GSY) ("goeasy" or the "Company"), one of Canada's leading non-prime consumer lenders, is pleased to announce that it priced US$400 million aggregate principal amount of 7.625% senior unsecured notes due 2029 (the "Notes"). The Notes will be...read article.

[retiredcf]

Coming off excellent results and a multitude of raised targets, today seems like an overreaction to the proposed offering so I added a few more near the close. GLTA

[CHECKMATE77]

As did I 

[McRambus]

The stock has lost 16 points in 2 days. There is no way a note offering is viewed as that big of a  negative after a great earnings report and solid guidance. This must be due to the fed 35% cap on imterest rates. This has already caused big drops in the stock on 3 occassions already. Market is not yet finished hammering this name. Despite management saying they're already adjusted

[Niceneasydoesit]

Was there some new news in the cap? 

[jboom70]

That surprise inflation rate could have spooked shareholders thinking repayment on loans might be at risk. Things are not good on the street, ppl are crunched. If you strip out housing and food (what ppl have to pay for) inflation is in th 1%'s . It's why I sold after earnings.

[McRambus]

This is a bunch of horsehitt. Did you even bother to read the forward guidance? Company has never had less chargeoffs and stronger credit profiles than now, 

[jboom70]

Has, not will have. Forward looking on my part. Won't see it till Q3 report

[McRambus]

More malarky. When has this company ever disappointed in earnings or guidance? You took your few points and exited. Good for you. I don't blame you the action here is not good b don't try and blame some inflation number that was actually down and positive for the decline. 

[jboom70]

In Canada 23% of PPL are skipping meals. 90% of ppl under 35 can't afford a home and don't. Housing starts have crashed. We have a massive seperation in the have and have not's. You either have low housing cost or you don't. And wait till the under 2% have to refinance. Where is the relief? I don't see it till housing breaks here in Canada. Boc will stay high to long and

[McRambus]

Yet more malarky. Obviously the company doesn't see your data points. I skip meals many days too and I'm not poor lol. It means nothing. Housing will never break in Canada. Never. Anybody thinking we are going back to $200k condos and $300k detached homes ever again is bitter cause they missed out waiting on the sidelines for over a decade or needs their head examined. GSY clients

[jboom70]

Ppl skipping meals cause they can't afford to buy food, not cause they choose to. Your missing the point. And housing can break Not saying to crazy levels but when the spring market comes and a flood of homes go on with no buyers and still high interest rates so no one can buy if they wanted to, the reaction will be to drop prices. I think you are a have not a have not person so you don'

[McRambus]

You don't know what you're talking about. There are 1.5 million people coming in 2024 along with 1.5 million that came in 2023. There is no shortage of buyers out there when the big banks and CMHC are willling to finance consumers even with negative equity. If housing breaks the country breaks because the country backs most buyers. Your fear mongering of a break in housing is a pipe dream.

[jboom70]

Plain english. People can not efford to buy homes. Do some math! In my area north of Toronto you have to make over $200g just to qualify Get a mortgage calculator and do the math. Or for god sakes talk to someone under 40. Housing starts are way down here in Ontario and last Fall/Winter home builders just capped foundations and walked away. 10's of thousands construction workers in southern

[McRambus]

YOU are the one missing the point. Housing does not pertain much to GSY. In plain English, the poorer and more debt a consumer holds the lower his credit score the more customers will flock to GSY because the big banks won't serve them. Your fear mongering of this housing crash I've been hearing about simce 2011; all I see is mortgage holders who can't make monthly payments just

[jboom70]

PPL are losing their homes. Have been since last fall.  Simple question: How much do you pay per month for a $900 000 home with 10% down. Napkin math $200 per person per week for food , insurance and car payment, gas. So answer me, how much do you have to make a month?

[McRambus]

This post has been removed in accordance with Community Policy

[Niceneasydoesit]

That's baloney. Last year was the pressure year. Since then, rates are on the decline, mortgage and otherwise. The company grew revenues top and bottom during this period. Loss provisions well contained. Do your homework sir

[jboom70]

Watch sp

[McRambus]

Share price is doing just fine. Didn't you already sell in fear of a housing panic? lol Why are you even here? 

[jboom70]

You might want to listen to credit companies earnings calls. Yep! sold near the top. Thinking in weeks months not a couple of days. Might want to look at institutional levels next month when they come out.