06:24 AM EDT, 10/22/2024 (MT Newswires) -- goeasy (GSY.TO), a Canadian consumer lender, late on Monday said it has priced US$400 million of 6.875% senior unsecured notes due 2030, up from US$350 million previously, and C$150 million of 6% senior unsecured notes due 2030.

The company also expects to enter into a currency swap agreement to fix the foreign currency exchange rate for the proceeds from the offering of the USD notes to reduce the effective cost of borrowing when converted into Canadian currency.

Net proceeds from the offering are estimated to be around C$693.6 million, subject to adjustment as a result of the currency swap.

The proceeds will be used to fund a cash tender offer to purchase outstanding 4.375% senior unsecured notes due 2026, partially repay debt under secured facilities and for general corporate purposes.

The offering is expected to close on Nov. 4.