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Provident Funding Associates, L.P. and PFG Finance Corp – Exchange Offer and Consent Solicitation 2024 (US) - Launch

Provident Funding Associates, L.P. and PFG Finance Corp. Announce Exchange Offer and Consent Solicitation in respect of their Senior Notes - US74387UAJ07 - USU74337AD56

18 JULY 2024


Full announcement available, including disclaimers and restrictions available via Prnewswire: Source: Provident Funding


SANTA ROSA, Calif., July 18, 2024 /PRNewswire/ -- Provident Funding Associates, L.P. (the "Company") and PFG Finance Corp., a direct wholly-owned subsidiary of the Company (the "Co-Issuer," and together with the Company, the "Issuers"), today announced that they have commenced (i) an offer to exchange (the "Exchange Offer") any and all of their outstanding 6.375% Senior Notes due 2025 (the "Existing Notes") for cash and for the Issuers' new 8.375% Senior Notes due 2027 (the "New Notes") and (ii) a solicitation of consents to certain proposed amendments to the indenture governing the Existing Notes (the "Consent Solicitation"), in each case, upon the terms and subject to the conditions described in the Confidential Offering Memorandum and Consent Solicitation Statement, dated July 18, 2024 (the "Offering Memorandum"). The primary purpose of the Exchange Offer is to improve the Company's maturity profile by extending the maturity date of the indebtedness represented by the Existing Notes from June 2025 to January 2027.

The following table summarizes certain terms of the Exchange Offer:



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