World Acceptance Corporation (NASDAQ: WRLD) today announced its
intention to offer, subject to market and other conditions, $250 million
in aggregate principal amount of its senior notes due 2020 (the “Senior
Notes”) in a private placement transaction to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”) and to non-U.S. persons in offshore
transactions in reliance on Regulation S under the Securities Act.
The Company intends to use the net proceeds to repay borrowings under
its amended senior secured revolving credit facility and to pay fees and
expenses related to the offering.
This press release is for informational purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of the Senior Notes in any state
or other jurisdiction in which such offer, solicitation or sale would be
unlawful prior registration or qualification under the securities laws
of such state or other jurisdiction. The Senior Notes are not being
registered under the Securities Act, or the securities laws of any other
jurisdiction, and may not be offered or sold in the United States
without registration or an applicable exemption from registration
requirements.
About World Acceptance Corporation
World Acceptance Corporation is one of the nation’s largest small-loan
consumer finance companies, operating 1,320 offices in 15 states and
Mexico. It is also the parent company of ParaData Financial Systems, a
provider of computer software solutions for the consumer finance
industry.
Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended that represent the Company’s expectations or beliefs concerning
future events. Statements other than those of historical fact, as well
as those identified by the words “anticipate,” “estimate,” ”intend,”
“intention,” “plan,” “expect,” “believe,” “may,” “will,” and “should” or
any variation of the foregoing and similar expressions are
forward-looking statements. Such forward-looking statements are about
matters that are inherently subject to risks and uncertainties. Actual
results may differ materially from those reflected in the
forward-looking statements. Additional information concerning factors
that could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements is contained
under the heading of “Risk Factors” listed from time to time in the
Company’s filings with the Securities and Exchange Commission, including
its Annual Report on Form 10-K for the year ended March 31, 2014 and in
Exhibit 99.2 to its Current Report on Form 8-K filed May 8, 2015 to
which this press release is also attached as an Exhibit. In addition, it
is not certain whether, and the Company can provide no assurances that,
the offering of the Senior Notes will be completed on the terms
described above or at all. Risks and uncertainties relating to such
offering include market conditions beyond the Company’s control,
including high-yield debt market conditions. The Company does not
undertake any obligation to update any forward-looking statements it
makes and is not responsible for changes made to this press release by
wire services or Internet Services.
Copyright Business Wire 2015