Guitar Center to use amended facility to fund Music & Arts Center acquisition

By Caroline Salls

Pittsburgh, Feb. 9 - Guitar Center Inc. will use its recently amended credit facility and available cash to fund the $90 million acquisition of Music & Arts Center.

Guitar Center will also assume an estimated $8 million in Music & Arts Center debt and other deferred obligations.

The acquisition is expected to close in the second quarter and is subject to customary terms and conditions and the receipt of third-party consents.

Guitar Center is a Westlake Village, Calif.-based retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment.

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