Press release from Marketwire
DirectCash Payments Inc. Announces Pricing of Senior Unsecured Notes
Thursday, August 02, 2012
CALGARY, ALBERTA--(Marketwire - Aug. 2, 2012) -
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DirectCash Payments Inc. (TSX:DCI) ("DirectCash") is pleased to announce the pricing of its previously announced offering of $125 million principal amount of 7-year senior unsecured notes (the "Notes"). The Notes will be priced at par, will bear interest at a rate of 8.125% per annum and will mature on August 8, 2019. The Notes are being offered in each Province of Canada and in the United States on a private placement basis through a syndicate of underwriters led by BMO Capital Markets. Closing is expected to occur on or about August 8, 2012.
The net proceeds from the sale of the Notes will be used to reduce DirectCash's outstanding bridge indebtedness incurred in relation to its recently completed acquisition of Customers Limited in Australia.
The Notes to be issued will not be registered under the U.S. Securities Act of 1933 (the "Securities Act"), as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. The Notes will be offered and sold in the United States solely to "qualified institutions buyers" pursuant to Rule 144A under the Securities Act or to non U.S. persons in offshore transactions in accordance with Regulation S of the Securities Act. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
DirectCash is a leading provider of ATMs, debit terminals and prepaid products in Canada and Australia. DirectCash also offers ATM services and prepaid cards in the United Kingdom and ATM services in Mexico, New Zealand and the United States. DirectCash is a full-service operator and transaction processor in each of these business units and has been in the ATM business since 1997 and the debit terminal and prepaid products businesses since 2002.
Additional information about DirectCash, including DirectCash's Annual Information Form and other public filings is available on SEDAR (www.sedar.com) and on the DirectCash's website (www.directcash.net).
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated closing date of the offering of the Notes, the terms of the Notes and the anticipated use of the net proceeds from the sale of the Notes. Although DirectCash believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because DirectCash can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the offering of Notes could be delayed, or not completed at all, if the conditions to closing are not satisfied or if there are events in the financial markets (or otherwise) that affect the ability to complete the offering of the Notes. Accordingly, there is a risk that the offering of the Notes will not be completed within the anticipated time, or at all. The forward looking statements contained in this press release are made as of the date hereof and DirectCash undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeffrey J. Smith DirectCash Payments Inc. President, CEO & Director (403) 387-2101 firstname.lastname@example.org