SOURCE: Imperial Capital

Imperial Capital

February 01, 2012 08:00 ET

Imperial Capital Acts as Joint Book Runner (Lead Left) for C$132.5 Million of Senior Secured Notes for The Cash Store Financial Services Inc.

LOS ANGELES, CA--(Marketwire - Feb 1, 2012) - Imperial Capital announced the successful completion of a C$132.5 million 11 1/2% Senior Secured Notes offering (the "Notes") for The Cash Store Financial Services Inc. ("CSF" or the "Company"). CSF is the largest owner and operator of short-term advance branches and a leading provider of alternative financial products and services in Canada through its two banners: Cash Store Financial and Instaloans. The Company serves as an alternative to traditional banks, acting as either a broker between the customer and third-party lenders or as the direct lender to the customer.

"Imperial Capital was instrumental to the success of the financing, including assisting the Company in crafting our marketing materials and understanding our future capital needs in structuring the Notes. This transaction will benefit the Company and will allow us to accelerate our transition to a direct lending model. We are pleased to note the strong investor interest demonstrated by the oversubscription to the issue. This inaugural bond issue in the U.S. and Canadian markets will provide the company with access to a new source of funding to support further growth," said Gord Reykdal, Chairman and CEO of The Cash Store Financial Services Inc.

"This transaction significantly reduces the Company's cost of capital and provides the Company with a permanent capital solution that enables the management team to continue growing the business," said Jeff Zolkin, Managing Director and Head of Leveraged Finance.

"Imperial Capital's strong institutional client relationships and middle market focus were the keys to the success of this transaction," added Chris Shepard, Managing Director and Co-Head of Investment Banking. "This transaction demonstrates Imperial Capital's ability to provide high yield financing for our middle market clients."

The Notes have not been registered under the Securities Act of 1933 (the "Act") or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. The Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Act and to certain non-US persons outside the United States in reliance on Regulation S under the Act.

About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, San Francisco, Minneapolis, Boston and Chicago. The firm currently employs over 200 professionals and offers a wide range of proprietary products and services to institutional investors, middle market companies and private equity firms. Imperial Capital provides institutional clients research and sales and trading of high yield and distressed debt securities, bank debt, convertible bonds, preferred stocks, and equities. The firm provides middle market companies and financial sponsors with capital markets, mergers and acquisitions, capital structure, restructuring and recapitalization advisory services. More information about Imperial Capital can be found at www.imperialcapital.com.

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