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Cardtronics subsidiaries complete senior notes offering

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Fintech Intelligence Digital Newsletter: April 2021


Cardtronics subsidiaries complete senior notes offering

Cardtronics plc subsidiaries Cardtronics Inc. and Cardtronics USA Inc. completed the issuance and sale of $300 million aggregate principal amount of 5.50% senior notes due 2025 in a private offering.

The company disclosed that the notes were sold to Wells Fargo Securities LLC and other initial purchasers. The offering's net proceeds were used to repay part of the outstanding borrowings under Cardtronics' revolving credit facility and to pay related costs and expenses.

Interest will accrue from April 4. The notes bear an annual interest rate of 5.50%, payable in cash in arrears May 1 and Nov. 1 of each year, beginning Nov. 1.

Either of the Cardtronics subsidiaries may redeem part or all of the notes at predetermined prices, plus accrued and unpaid interest, on or after May 1, 2020. Any time prior to May 1, 2020, the subsidiaries may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds of certain equity offerings at a redemption price of 105.5% of the principal amount, plus any accrued and unpaid interest.