Community Choice Financial today completed an offering of secured notes via sole bookrunner Credit Suisse, according to sources. Issuance comes under Rule 144A for life, and the issue features a special call for up to 10% of the issue annually at a price of 103% of par. The company, formerly known as CheckSmart, provides financial services such as short-term consumer loans, title loans, check cashing, and money orders, among other things. Terms:
| Issuer | Community Choice Financial | |
| Ratings | na/na | |
| Amount | $25 million | |
| Issue | secured notes (144A for life) | |
| Coupon | 12.75% | |
| Price | 100 | |
| Yield | 12.75% | |
| Spread | T+1,159 | |
| FRN eq. | L+1,134 | |
| Maturity | May 1, 2020 | |
| Call | nc4 | |
| Trade | July 2, 2012 | |
| Settle | July 6, 2012 (T+3) | |
| Joint Bookrunners | CS | |
| Co-Leads | ||
| Co’s. | ||
| Px talk | ||
| Notes | w/ three-year equity clawback for 35% @112.75; carries T+50 make-whole call; w/ special call for 10% of issue annually @ 103 until 5/1/16. |