Oaktree and others in connection with a $150 million credit facility to and uptier exchange of $682 million of notes of CURO

On May 15, 2023, CURO Group Holdings Corp. entered into a new $150 million first lien credit agreement with certain existing holders of CURO’s existing second lien 7.500% Senior Secured Notes due 2028.  In connection with the new term loan, CURO issued $682 million of new 7.500% Senior 1.5 Lien Secured Notes due 2028 in exchange for $682 million principal amount of existing second lien notes of the Holders.  The proceeds of the new term loan were used to prepay CURO’s existing first lien revolving credit facility, for general corporate purposes, and for fees and expenses relating to the foregoing transactions.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to an ad hoc group of the Holders led by Oaktree Capital Management, Caspian Capital LP, and Empyrean Capital Partners, LP.