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. MoneyGram cooperates with numerous partners from Europe. Among them such financial establishments as Post of Canada, Cyprus, Ukraine, Iceland, Moldova, the Royal Mail of UK and Norway, Italian Post, Bank of Ireland, Sberbank of Russia, Kocbank, Banco Popular Espanol, and many others. 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. Last year, MoneyGram business in the CIS and Eastern Europe took priority positions to increase the number of branches in comparison with other regions - were opened new four thousand branches. The Global Funds Transfer segment is the primary segment of MoneyGram, providing money transfer and bill payment services to consumers, who are often unbanked or underbanked.