Dollar Financial Corp Announces Intent to Seek Amendment and Extension of Existing Credit Agreement
BERWYN, Pa.--(Business Wire)-- Dollar Financial Corp (NASDAQ:DLLR), a leading international diversified financial services company primarily serving unbanked and under-banked consumers for nearly 30 years, today announced its intent to seek an amendment and extension of the terms of the Company`s existing credit agreement for the Company`s revolving facilities and its $286.2 million of term loans in Canada and $83.5 million of term loans in the United Kingdom. As part of the amendment process, the Company is seeking modified covenant terms, which would provide the Company with increased flexibility to continue to take advantage of opportunities to further expand the Company`s global footprint and diversified business model. Upon satisfaction of certain conditions, the amendment would also allow the extension of the maturity dates of a portion of the Company`s credit facilities to December 2014. There can be no assurances that the amendment and extension of the credit agreement will be completed as described herein or at all. The Company has engaged Credit Suisse Securities (USA), LLC and Wells Fargo Bank, National Association, as Joint Lead Arrangers and Joint Book Runners for this transaction. U.S. Bank, National Association is the Documentation Agent and Syndication Agent. About Dollar Financial Corp Dollar Financial Corp is a leading diversified international financial services company primarily serving unbanked and under-banked consumers. Its customers are typically service sector individuals who require basic financial services but, for reasons of convenience and accessibility, purchase some or all of their financial services from the Company rather than from banks and other financial institutions. To meet the needs of these customers, the Company provides a range of consumer financial products and services primarily consisting of check cashing, short-term consumer loans, pawn lending, Western Union money order and money transfer products, currency exchange, gold buying, reloadable VISA and MasterCard branded debit cards, electronic tax filing, and bill payment services. At September 30, 2009, the Company`s global store network consisted of 1,188 stores, including 1,032 company-operated financial services stores and 156 franchised and agent locations in the United States, Canada, United Kingdom, Republic of Ireland, and Poland. The financial services store network is the largest network of its kind in each of Canada and the United Kingdom and the second-largest network of its kind in the United States. The Company`s customers, many of whom receive income on an irregular basis or from multiple employers, are drawn to the convenient neighborhood locations, extended operating hours and high-quality customer service. The Company`s financial products and services, principally check cashing, money transfer, pawn lending and short-term consumer loan programs, provide immediate access to cash for living expenses or other needs. For more information, please visit the Company's website at www.dfg.com. Dollar Financial Corp Financial Dynamics Julie Prozeller/Grace Su, 212-850-5600 Copyright Business Wire 2009
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