J.P. Morgan Securities, Credit Suisse and HSBC Securities provided $1.825 billion in debt financing for Rent-a-Center’s recent acquisition of Acima, a provider of virtual lease-to-own solutions.
Rent-A-Center completed a $500 million facility comprised of a $200 million term loan and a $300 million ABL revolving credit facility.
Rent-A-Center amended its credit agreement with its existing bank group with JPMorgan as administrative agent. The amended facility extends through March 2019 and provides the company with the additional liquidity and flexibility needed to execute its strategic plan to drive growth and improve profitability.
As an update to a Rent-A-Center news release published earlier today (3/20/14) regarding a new $900 million senior secured credit facility encompassing a $225 million term loan and a $675 million revolver, a recent 8-K filing revealed the following: According to the filing, the lender group was led by JPMorgan Chase as administrative agent with […]
Rent-A-Center announced the completion of the previously announced refinancing of its senior credit facility. The new $900 million facility consists of a $225 million term loan and a $675 million revolver.
Rent-A-Center said it intends to refinance its senior credit facility with $850 million in new debt. A lender group led by JPMorgan Chase is currently providing a $750 credit facility which matures in July 2016.