Rent-A-Center plans new debt financing for buyout by Vintage Capital

By Sara Rosenberg

New York, June 18 – Rent-A-Center Inc. plans on getting new debt financing to help fund its acquisition by Vintage Capital Management LLC, according to a news release.

B. Riley Financial Inc. and Guggenheim Corporate Funding LLC are the joint lead arrangers on the deal. Guggenheim is the administrative agent.

Under the agreement, Rent-A-Center is being bought for $15.00 per share in cash. The transaction represents a total consideration of about $1,365,000,000, including net debt.

Closing is expected by the end of the year, subject to customary conditions including the receipt of stockholder and regulatory approvals.

Rent-A-Center is a Plano, Texas-based rent-to-own operator.

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