Dollar Financial Corp Announces Intent to Seek Amendment and Extension of Existing Credit Agreement

Wed Nov 11, 2009 8:00pm EST
 
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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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