Despite the debt crisis in Europe and other shocks experienced by the world economy, the company MoneyGram International notes the increase in the money transfer market. 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. MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality. In due time MoneyGram separated from the Western Union and became an independent brand. Money transfer system MoneyGram International and the second largest bank in China - Bank of China, announced the start of service of MoneyGram at 200 offices Bank of China in Beijing. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap. MoneyGram's consumers and agents expect reliability and safety and that is precisely what MoneyGram continues to deliver, transaction by transaction. Around the world, MoneyGram is working with leading financial institutions. How to obtain the money? You go to any branch or affiliate partner of MoneyGram, show your identity document, fill in the letterhead, which specify a the transfer code and get the money.
MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality. In due time MoneyGram separated from the Western Union and became an independent brand. 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.