Alston & Bird client World Acceptance Corporation has closed its debut offering of $300 million in senior high-yield bonds.
The offering of 7.000% senior notes due 2026 was priced by the company on September 22, 2021, and closed September 27, 2021.
The net proceeds of the bond offering were used to repay a portion of the company’s revolving credit facility.
Founded in 1962 and listed on the Nasdaq, World Acceptance Corporation is one of the U.S.’s largest small-loan consumer finance companies. Headquartered in Greenville, SC, it has more than 1,200 branches in 16 states and over 100 branches in each of Texas, Georgia, Tennessee, and South Carolina, serving over 1 million customers annually.
Advising World Acceptance Corporation in the financing was an Alston & Bird team led by partners Dave Brown and Tamer Bahgat, assisted by partners Julie Mediamolle and Matthew Wrysinski; counsel Michael Lee; senior associates Jonathan Forgang and Akiba Chonoles; and associates Luke Trompeter, Robyn Downing, and Laura Giambalvo (Corporate & Finance).
The offering of 7.000% senior notes due 2026 was priced by the company on September 22, 2021, and closed September 27, 2021.
The net proceeds of the bond offering were used to repay a portion of the company’s revolving credit facility.
Founded in 1962 and listed on the Nasdaq, World Acceptance Corporation is one of the U.S.’s largest small-loan consumer finance companies. Headquartered in Greenville, SC, it has more than 1,200 branches in 16 states and over 100 branches in each of Texas, Georgia, Tennessee, and South Carolina, serving over 1 million customers annually.
Advising World Acceptance Corporation in the financing was an Alston & Bird team led by partners Dave Brown and Tamer Bahgat, assisted by partners Julie Mediamolle and Matthew Wrysinski; counsel Michael Lee; senior associates Jonathan Forgang and Akiba Chonoles; and associates Luke Trompeter, Robyn Downing, and Laura Giambalvo (Corporate & Finance).