Cash America to draw on credit line for pawn lending assets buy

By Sara Rosenberg

New York, Aug. 28 - Cash America International Inc. plans on using its existing line of credit and cash on hand to fund the roughly $62 million acquisition of 34 pawn lending locations from PawnMart Inc., according to a news release.

Closing is expected in the fourth quarter, subject to the receipt of certain approvals to be obtained by the seller and its parent company, Xponential Inc., licensing and the regulatory approvals.

Cash America is a Fort Worth, Texas-based specialty financial services provider.

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