MoneyGram (MGI) Announces $ 50 Million Share Buyback


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MoneyGram International, Inc. (NASDAQ: MGI) (the “Company”), the global leader in the evolution of digital P2P payments, today announced two measures to continue to improve its capital structure and further reduce its outstanding long-term debt. The Company has announced that it will voluntarily repay the principal of a $ 15 million term loan. In addition, the Board of Directors of the Company has authorized a share repurchase program for the repurchase of up to $ 50 million of outstanding common shares of the Company.

“This announcement demonstrates our confidence in improving the financial strength and long-term trajectory of MoneyGram,” said Larry Angelilli, CFO of MoneyGram. “These actions allow us to improve our capital structure by reducing our outstanding debt, which follows our successful refinancing earlier in the year, and further reduce our interest charges, which are now at their lowest. level for years. “

As part of the share repurchase program, repurchases may be made from time to time using a variety of methods, including open market purchases, all in accordance with the rules of the United States Securities and Exchange Commission. United and other applicable legal requirements. The timing and actual number of Shares repurchased will be determined by management based on market conditions and other factors.

The Company intends to repurchase shares to the extent that management believes this would not adversely affect the Company’s current credit ratings. In addition, the Company intends to effect repurchases only on an opportunistic basis in response to what it considers to be a recent significant depreciation in share prices. The buyback program does not oblige the Company to acquire any particular number of shares, and the buyback program may be suspended or discontinued at any time at the discretion of the Company.

Forward-looking statementsThis communication contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995, which are not limited to historical facts, but reflect MoneyGram’s current beliefs, expectations or intentions regarding events. future and only speak from the date of their manufacture. Words such as “may”, “could”, “will”, “could”, “should”, “should”, “expect”, “plan”, “plan”, “intend”, “Anticipate”, “” estimate “,” predict “,” potential “,” in application “,” objective “,” forecast “,” prospect “,” continue “,” currently “and similar expressions are intended to identify these forward-looking statements. Statements in this communication that are not historical statements are forward-looking statements within the meaning of federal securities laws. Specific forward-looking statements include, among other things, statements regarding the Company’s projected operating results and specific factors that could affect the Company’s operating results. Forward-looking statements are subject to many risks and uncertainties that are difficult to predict and many of which are beyond MoneyGram’s control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks include, without limitation, the risks and uncertainties described in the “Risk Factors” and “Management’s Discussion and Analysis of the Financial Position and Results of Operations” sections of MoneyGram’s public periodic reports filed with of the United States Securities and Exchange Commission (SEC), including MoneyGram’s annual report on Form 10-K for the fiscal year ended December 31, 2020, and subsequent quarterly reports on Form 10-Q.

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