Rent-A-Center shops $875 million term B at Libor plus 325-350 bps

By Sara Rosenberg

New York, Sept. 9 – Rent-A-Center Inc. is talking its $875 million term loan B at Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank, HSBC Securities (USA) Inc. and Credit Suisse Securities (USA) LLC are the leads on the deal that launched with a call on Wednesday.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to reprice an existing term loan.

Rent-A-Center is a Plano, Tex.-based omni-channel lease-to-own provider for the credit constrained customer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.