FirstCash $550 million senior notes offering
The high-yield notes are due 2030
Davis Polk advised the representative of the initial purchasers in a Rule 144A / Regulation S offering by FirstCash, Inc. of $550 million aggregate principal amount of its 5.625% senior notes due 2030 for the financing of its acquisition of American First Finance Inc.
FirstCash is a leading operator of retail-based pawn stores with over 2,800 store locations in the United States and Latin America. FirstCash focuses on serving cash and credit constrained consumers through its retail pawn locations, which buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise and make small consumer pawn loans secured by pledged personal property.
The Davis Polk capital markets team included partner Michael Kaplan, counsel Jake Tyshow and associate Claudia Carvajal Lopez. Po Sit and associate Eitan Ulmer provided tax advice. Partner Gabriel D. Rosenberg and associate Greg Swanson provided financial institutions regulatory advice. All members of the Davis Polk team are based in the New York office.