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Joe Stone
Joe Stone
Managing Director, Co-Head of Debt Advisory & Restructuring
Hudson Grimes
Associate
Cliff Booth
Cliff Booth
Managing Director, Head of Specialty Finance
JD Nelson
JD Nelson
Managing Director
Adam Markiewicz
Adam Markiewicz
Director
Investment Banking

Exclusive Financial Advisor to CURO Group Holdings Corp.

by Oppenheimer & Co. Inc. August 13, 2024
Oppenheimer & Co. Inc. acted as Exclusive Financial Advisor to CURO Group Holdings Corp. during the company’s $2,102,000,000 Chapter 11 Reorganization

Oppenheimer professionals guided the negotiations with CURO Group Holdings Corp. (“CURO” or the “Company”), corporate & securitization lenders, and existing equity holders resulting in a “straddle” prepackaged plan of reorganization that resulted in:

  • Equitization of $1,000 million in corporate debt in exchange for new equity (pre-dilution) as follows:
    • 87.5% to the 1.5 lien noteholders
    • 10.1% to the 2.0 lien noteholders plus 7-year warrants
  • Existing shareholders receive 10-year contingent value rights
  • General unsecured creditors reinstated or paid in full
  • New $56 million exit first-out term loan and new $250 million exit second-out term loan
  • Renegotiated securitization facilities with adjusted and/or extended terms

CURO is a leading provider of financial services focused on serving underbanked consumers through more than 650 branches across the United States and Canada.

curo deal

Debt Advisory and Restructuring

Financial Institutions Investment Banking

DISCLOSURES

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