In Brief: RAC Financial Plans $100M Note Offering

Eager for further expansion, RAC Financial Group is planning a $100 million private placement of notes.

The company, a big home equity lender, will use the proceeds to build business and refinance debt, a spokesman said. The offering, which includes an extra $15 million to cover overallotments, will be convertible into common stock.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER