DFC Global Corp., a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, announced a new five-year $180 million global revolving credit facility, with the potential to further expand the credit facility to $230 million. Interest payable on borrowings under the new facility, which replaces the company’s previous $235 million global revolving credit facility, will be derived from a pricing grid based on the Company’s total secured leverage ratio, which currently allows borrowings at an interest rate of LIBOR plus 400 bps, or approximately 5.0%.
The new revolving credit facility, which now includes a Euro based lender and is bound by a secured debt leverage ratio in lieu of a total debt to EBITDA calculation, is set to mature on October 25, 2018. The company plans to use the new facility to continue to maintain its active global acquisition pipeline as well as providing for short-term liquidity needs in the normal course of business.
DFC Global Corp. is an international non-bank provider of alternative financial services, principally unsecured short term consumer loans, secured pawn loans, check cashing, gold buying, money transfers and reloadable prepaid debit cards, serving primarily unbanked and under-banked consumers through its over 1,500 current retail storefront locations and its multiple Internet platforms in ten countries across Europe and North America: the United Kingdom, Canada, the United States, Sweden, Finland, Poland, Spain, Romania, the Czech Republic and the Republic of Ireland.