Ace Cash Express Completes $205 Million Debt Refinancing

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Irving, Texas--With an eye toward financing and plans to establish, acquire or franchise as many as 500 locations over a five-year period, Ace Cash Express Inc. has concluded a private placement of debt securities worth $40 million and established a $165 million long-term revolving bank loan facility. The new bank loan contract will offer Ace a revolving credit facility that can be used for working capital. Previously, the company reports, its more limited facilities would have hindered plans to establish or purchase new locations. -Dallas Business Journal

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