CPI Card Group Inc. announced the closing of the previously announced private offering by its wholly-owned subsidiary, CPI CG Inc. (the "issuer"), of $285 million aggregate principal amount of its 10.000% senior secured notes due 2029 (the "notes") and related guarantees. Concurrently with the issuance of the notes, the Company entered into a $75 million secured asset based revolving credit facility (the "ABL revolver"), which replaced its existing $75 million facility. The issuer used the net proceeds from the notes offering, together with cash on hand, to redeem all of the issuer's outstanding 8.625% senior secured notes due 2026 (the "2026 notes") and to pay related fees, premiums and expenses.