Since going public two and a half years ago, MoneyGram has made great strides by pouring energy and resources into several critically important areas for business. 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. In due time MoneyGram separated from the Western Union and became an independent brand. Withdrawal of Webmoney via MoneyGram allows to get cash within a day. No need to wait a long time to obtain funds, and then also to stand in queues. Everything happens very quickly. When sending the transfer via MoneyGram in one currency and receiving it in another, then currency conversion is carried out at the current rate of sales of current service point. In whatever part of the world you are, you can trust your money transfer to the company MoneyGram. MoneyGram launched a new in-person bill payment service which will be delivered through agents in their domestic network, giving consumers an easy, low-cost method to pay their bills. The benefits of money transfers by MoneyGram: high level of data protection and confidentiality of money transfers.
In due time MoneyGram separated from the Western Union and became an independent brand. Withdrawal of Webmoney via MoneyGram allows to get cash within a day. No need to wait a long time to obtain funds, and then also to stand in queues. Everything happens very quickly. 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.