First Cash talks $200 million seven-year notes to yield 6¾%-7%; pricing Wednesday

By Paul A. Harris

Portland, Ore., March 18 - First Cash Financial Services, Inc. talked its $200 million offering of seven-year senior notes (confirmed Ba3/expected BB-) to yield 6¾% to 7%, an informed source said on Tuesday.

Books close at 11 a.m. ET on Wednesday, and the deal is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S with registration rights offering. Deutsche Bank Securities Inc. is the joint bookrunner.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds will be used to repay in full the 2014 credit facility and certain promissory notes and for general corporate purposes.

The prospective issuer is a retail-based pawn store operator based in Arlington, Texas.

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