CNG Holdings Inc. is selling bonds to refinance debt, taking President Donald Trump’s embrace of the U.S. payday lending industry to the capital markets.
The company is selling $310 million of senior secured bonds, according to a person with knowledge of the matter. The five-year securities, which can’t be bought back for two years, are expected to price early next week, said the person, who asked not to be identified as the details are private.
Payday lenders like CNG, which extend short-term, high-interest loans to customers with limited creditworthiness, are readying for a potential payday of their own under Trump’s ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.