CPI Card Group To Raise $285M Via Private Offering Of Senior Secured Notes
Portfolio Pulse from Benzinga Newsdesk
CPI Card Group Inc. (NASDAQ: PMTS) announced a private offering of $285 million in senior secured notes due 2029. The proceeds will be used to redeem existing 8.625% senior secured notes due 2026 and cover related expenses. The offering is subject to market conditions and will be available to qualified institutional buyers.
June 24, 2024 | 11:37 am
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CPI Card Group Inc. (PMTS) is raising $285 million through a private offering of senior secured notes due 2029. The funds will be used to redeem existing 8.625% senior secured notes due 2026 and cover related expenses. The offering is subject to market conditions.
The new offering will help CPI Card Group manage its debt by redeeming higher-interest notes due 2026, potentially improving its financial stability and reducing interest expenses. This could be seen positively by investors, leading to a short-term price increase.
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