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Liberty Tax plans $105 million of debt for Outlet business purchase
By Sara Rosenberg
New York, Aug. 28 – Liberty Tax Inc. has received a commitment for $105 million of debt financing to help fund its acquisition of Sears Hometown’s Outlet business and its Buddy’s Home Furnishings Stores for about $132.9 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
Guggenheim Credit Services LLC is the administrative agent and lead arranger on the debt.
Other funds for the transaction will come from up to $40 million of equity and/or cash on hand.
Virginia Beach, Va.-based Liberty Tax is the indirect parent company of Liberty Tax Service, a preparer of income tax returns, and Buddy’s Home Furnishings, a leaser and seller of consumer electronics, residential furniture, appliances and household accessories.
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