CURO closes $425 million facility

WICHITA, Kan.–(BUSINESS WIRE)–CURO Group Holdings Corp. (NYSE: CURO) (“CURO”), a technology-driven, omnichannel consumer finance company serving unpreferred and blue-chip consumers in the United States and Canada, today announced that July 15 , In 2022, it entered into a new $425 million non-recourse revolving warehouse facility to replace the incumbent lender and fund future loans originated by Heights Finance. This is in addition to the $225 million non-recourse revolving storage facility announced last week as part of its purchase of First Heritage Credit. Prices at both warehouses were 425 basis points above the applicable benchmark rate.

“With the closure of this facility, along with the facility we announced last week to support our new First Heritage lending business, we have comprehensively transformed the funding of our U.S. direct lending business by expanding the ‘access to lower cost debt capital,’ said Roger Dean. , Chief Financial Officer of CURO. “These new facilities will allow us to further strengthen our liquidity position and provide the funding needed to grow our business.”

Forward-looking statements

This press release contains forward-looking statements. These forward-looking statements include statements regarding projections, estimates and assumptions regarding the impact of new facilities on us, including our belief that expanding access to lower-cost debt capital will enable us to strengthen further our liquidity position and to provide funds to grow our business. . The ability to make these forward-looking statements is based on certain assumptions, judgments and other factors, both within our control and beyond our control, that could cause actual results to differ materially from those contained in the forward-looking statements, including including: failure to realize the expected benefits of new facilities; risks related to the uncertainty of projected financial information and forecasts; the effects of competition on our business; our ability to attract and retain customers; global economic, market, financial, political or health conditions or events; our dependence on third-party lenders to provide the liquidity we need to fund our loans and our ability to access affordable third-party funding; our level of indebtedness; our ability to integrate acquired businesses; the impact of regulations on our business; our ability to protect our proprietary technology and analytics; disruption of our information technology systems; improper disclosure of personal customer data as well as other factors discussed in our filings with the Securities and Exchange Commission. The foregoing factors, as well as other existing risk factors and new risk factors that emerge from time to time, may cause actual results to differ materially from those contained in the forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements to predict actual future results. Further, the Company assumes no obligation to update, change or clarify any forward-looking statements.

About CURO

CURO Group Holdings Corp. (NYSE: CURO) is a full-spectrum consumer credit lender serving US and Canadian customers for over 25 years. Our roots in the consumer credit market run deep. We have worked diligently to provide our clients with a variety of convenient and easily accessible financial services. Our decades of alternative data powers a hard-to-replicate underwriting and rating engine, mitigating risk across the full spectrum of credit products. We operate a number of brands, including Cash Money®, LendDirect®, Flexiti®, Opt+®, Revolve Finance®, Heights Finance, Southern Finance, Covington Credit, Quick Credit, First Phase and First Heritage Credit.


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