For the company MoneyGram is important not only to provide customers with an easy and convenient way to carry out money transfers and support their families at home, but also to help them as much as possible to adapt to the foreign countries. 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. AgentConnect allows MoneyGram agents to integrate the money transfer service with their internal security and training processes. At the heart of MoneyGram is trust and reliability of customers. You can quickly send and receive money, as money transfers usually come to the recipient within 10 minutes. 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. The main clients of MoneyGram are students, travelers, immigrants, expatriates, however, recently representatives of businesses who appreciate the advantages of fast and reliable money transfer, joined them. After the correction of tariffs, volumes of MoneyGram transfers increased by 30%. The greatest increases in
MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality. AgentConnect allows MoneyGram agents to integrate the money transfer service with their internal security and training processes. 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.