During December 1998, the Company re p u rchased notes with a face value of DM 26.4 million and 31,173 warrants for a total pur c h a s e
price of $5.5 million. This re p u rchase was accounted for as an extinguishment of debt with a resulting $2.9 million (net of income taxes of
$1.5 million) recognized as an extraor d i n a ry gain on such extinguishment. The extinguishment gain (pre-tax) r e p resents the diff e re n c e
between the allocated carrying value of the debt extinguished ($10.2 million) and the consideration paid ($5.5 million), offset by the write-
o ff of the allocated unamortized deferred financing costs ($341,000). 
The following table provides the composition of notes payable at December 31:
2 0 0 0 1 9 9 9
(in thousands)
Principal amount $ 9 3 , 8 1 9. $ 1 0 0 , 1 1 3.
U n a m o rtized discount ( 1 6 , 6 2 8 ) ( 2 7 , 3 1 3 )
C a rrying balance $ 7 7 , 1 9 1. $ 7 2 , 8 00.
The effective interest rate relating to the aforementioned notes payable was 13.09% for 2000 and 1999. The interest expense was
a p p roximately $8.8 million and $9.5 million for the years ended December 31, 2000 and 1999, re s p e c t i v e l y. 
(12) Private Placement of Common Shares 
In July 2000, the Company entered into subscription agreements for the sale of 877,946 new common shares of the Company. Closing with
respect to such sale took place on July 14, 2000 and August 29, 2000. These agreements were signed with accredited investors in
transactions exempt from registration pursuant to the exemptions provided in Section 4(2) and Regulation D of the Act. The purchase price
of each share was $6.97. The aggregate amount of proceeds to the Company from the private placement was $6.1 million. 
In April 2000, the Company entered into two separate subscription agreements for the sale of an aggregate of 354,777 new common share s
of the Company. Of the total new shares, closing with respect to 254,777 shares took place on April 10, 2000, and closing with respect to
100,000 shares took place on May 4, 2000. These agreements were signed with certain foreign persons in transactions exempt fr o m
registration under the United States Securities Act of 1933 (the “Act”) pursuant the exemption provided in Regulation S of the Act. The
weighted average purchase price of each share was $7.50. The aggregate amount of proceeds to the Company from the private placement
was $2.7 million. Under each of the agreements, for each two shares of common stock purchased in the private placement, the accre d i t e d
investors were issued one warrant, expiring in each case on the one year anniversary date of the subscription agreement, to purchase a share
of Euronet common stock at a weighted average exercise price of $12.50. 
In Febru a ry 2000, the Company entered into two subscription agreements for the sale of an aggregate of 650,000 new common shares of the
C o m p a n y. Closing under these agreements took place on March 13, 2000. These agreements were signed with certain accredited investors in
transactions exempt from registration pursuant to the exemptions provided in Section 4(2) and Regulation D of the Act. The purchase price
of each share was $6.615, which re p resents 90% of the average closing price for the ten trading days prior to and including Febru a ry 15,
2000. The aggregate amount of proceeds to the Company from the private placement was $4.3 million. Under each of the agreements, for
each two shares of common stock purchased in the private placement, the purchasers were issued one warrant to purchase a share of Euro n e t
common stock at an exercise price of $11.615, expiring in each case on the one year anniversary date of the subscription agreement. 
(13) Credit Facility 
On June 28, 2000 the Company entered into an unsecured revolving credit agreement (the “Credit Agreement”) providing a facility of up to
$4.0 million from three shareholders as follows: DST Systems in the amount of $2.4 million; Hungarian-American Enterprise Fund in the