Conn’s closes amended and restated $650 million asset-based revolver

By Sarah Lizee

Olympia, Wash., May 24 – Conn’s, Inc. closed an amended and restated $650 million asset-based revolving credit facility, according to a press release.

“In addition to extending the maturity to four years from three years, the amended credit facility provides us with a higher advance rate on our receivables portfolio,” chairman and chief executive officer Norm Miller said in the release.

“The combination of better economic terms and smaller facility size is expected to save over $1 million per year in interest expense.”

Conn’s is a the Woodlands, Texas-based specialty retailer of furniture, mattresses, home appliances and consumer electronics and a provider of consumer credit.

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