CPI Card Unit Prices $285 Million Private Debt Offering-March 2024-www.financetom.com

CPI Card Unit Prices $285 Million Private Debt Offering

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CPI Card Unit Prices $285 Million Private Debt Offering

Jun 26, 2024 2:41 PM

05:28 PM EDT, 06/26/2024 (MT Newswires) -- CPI Card Group ( PMTS ) said Wednesday its wholly-owned unit CPI CG has priced a private offering of $285 million of its 10% senior secured notes due 2029.

The offering is expected to close on July 11, pending standard closing requirements.

CPI CG plans to utilize the net proceeds, with cash on hand, to redeem all its outstanding 8.625% senior secured notes due 2026.

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