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Rent-A-Center, Inc. Announces Pricing of $450 Million of 6.375% Senior Unsecured Notes Due 2029
PLANO, Texas--(BUSINESS WIRE)-- Rent-A-Center, Inc. (the "Company" or "Rent-A-Center") (NASDAQ/NGS: RCII) today announced pricing of the private offering by
About this update from Upbound Group, Inc.
[{"type":"text","content":" PLANO, Texas--(BUSINESS WIRE)--\nRent-A-Center, Inc. (the \"Company\" or \"Rent-A-Center\") (NASDAQ/NGS: RCII) today announced pricing of the private offering by its wholly-owned subsidiary, Radiant Funding SPV, LLC, of $450 million in aggregate principal amount of 6.375% senior unsecured notes due 2029 (the “Notes”). The Notes will be issued at par value.\n\nSubject to customary closing conditions, the Company anticipates that the offering of the Notes will be completed on February 17, 2021. Rent-A-Center intends to use the net proceeds from this offering, together with borrowings under the Company’s asset based revolving facility and a new term loan facility, to finance the consideration required to effect its merger with Acima Holdings, LLC.\n\nThe Notes offering will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), only to persons reasonably believed to be “qualified institutional buyers” in accordance with Rule 144A under the Securities Act and to persons outside the United States in accordance with Regulation S under the Securities Act.\n\nThis press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor will there be any sale of the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes and related note guarantees have not been and will not be registered under the Securities Act or any state or other jurisdiction’s securities laws, and may not be offered or sold in the United States to, or for the benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable securities laws of any state or other jurisdiction.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as \"may,\" \"will,\" \"expect,\" \"intend,\" \"could,\" \"estimate,\" \"predict,\" \"continue,\" \"should,\" \"anticipate,\" \"believe,\" or “confident,” or th...