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Conn’s amends loan agreement to allow new notes, plans paydown
By Marisa Wong
Madison, Wis., June 23 – Conn’s, Inc. amended its second amended and restated loan and security agreement dated Sept. 26, 2012 with Bank of America, NA as administrative agent to amend covenants that, among other things, permit an offering of senior notes, according to an 8-K filing with the Securities and Exchange Commission.
Conn’s entered into the second amendment to its second amended and restated loan agreement on June 20.
The company announced on Monday that it planned to offer $250 million of senior notes due 2022, proceeds of which will be used to repay borrowings outstanding under its loan agreement.
Based in the Woodlands, Texas, Conn’s is a retailer of furniture, mattresses, home appliances, consumer electronics and provider of consumer credit.
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