Latham & Watkins Advises on Lendmark Financial Services’ US$400 Million Senior Notes Offering and US$270 Million Tender Offer

Lendmark Financial Services, LLC, a provider of personal and household credit and loan solutions to consumers, announced that its indirect parent, LFS TopCo LLC (the Issuer), has priced an offering of US$400 million in aggregate principal amount of 8.750% unsecured senior notes due 2030 in a private offering that is exempt from the registration requirements of the Securities Act of 1933. The notes will be guaranteed on a senior unsecured basis by each of the Issuer's wholly owned domestic subsidiaries, subject to certain exceptions. The offering is expected to close on July 3, 2025, subject to the satisfaction of customary closing conditions. The company also announced a cash tender offer to purchase any and all US$270 million of its outstanding 5.875% senior notes due 2026. The cash tender offer is expected to expire on July 3, 2025, and is subject to certain closing conditions, including the closing of the notes offering.

Latham & Watkins LLP represents the initial purchasers in the notes offering and the dealer managers in connection with the tender offer with a Capital Markets team led by partners Senet Bischoff and Michael Benjamin, with associates Robyn Sablove, Yulong Li, Elina Stavropoulou, Bradford Taylor, and Jackie Stern. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Shiyi Parsons; on CFPB matters by partner Parag Patel; on intellectual property matters by partners Jeffrey Tochner and Pelin Serpin; and on data privacy matters by partner Robert Blamires, with associate Kathryn Parsons-Reponte.