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.

© 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.