Due to regulatory requirements and consumer demand in Germany and France, MoneyGram opened company stores in both countries. On March 7, 2011, MoneyGram entered into a Recapitalization Agreement with THL, as the holder of all of the B Stock, and Goldman Sachs, as the holder of all of the B-1 Stock. Technology continues to play a key role in increasing MoneyGram transaction speed, automating and streamlining processes, and creating new functionality. As part of the 2008 Recapitalization, our wholly owned subsidiary, MoneyGram Payment Systems Worldwide, Inc., issued Goldman Sachs $500.0 million of senior secured second lien notes with a 10-year maturity. FormFreeSM phone-based offering allows businesses to reduce labor costs and create an excellent consumer experience by leveraging MoneyGram The benefits of money transfers by MoneyGram: simplicity in making up. Commission income on remittances and other revenues of MoneyGram in the 2nd quarter 2012 increased by 10% compared to the same period last year and 13% in the base currency. Undoubtedly, you should use the system of electronic money transfers MoneyGram, if you want to send or receive money with the guarantee of their delivery and safety. MoneyGram financial results were driven by money transfer business, which delivered more than 40 percent growth in transaction volume.