EZCorp Inc., an Austin-based payday lender and pawn shop chain, said Monday it is setting up a private offering of $175 million of convertible senior notes due in 2019 and has also set its earning guidance for the second half of fiscal 2014.
The company expects non-GAAP earnings growth of more than 80 percent in the second half of fiscal 2014. The convertible notes will be converted solely into cash based on a conversion rate that is yet to be determined, according to the company.