Conn’s draws down $275 million from revolver

By Rebecca Melvin

New York, April 14 – Conn’s Inc. said it has borrowed $275 million of cash from its revolving credit facility as a precautionary measure to preserve financial flexibility.

The action increases the company’s cash on balance sheet to more than $270 million and immediately available liquidity to about $400 million.

The disclosure was made in its report of financial results for the quarter ended Jan. 31.

The furniture, mattress and appliance retailer is based in The Woodlands, Tex.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.