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From Home Furnishing Business

Conn's Expands Revolving Credit Facility

Home furnishings, electronics and appliance retailer Conn's Inc. has completed an expansion and extension of its asset-based loan facility with a syndicate of banks.

Under the amended terms, the revolving facility commitment increased $265 million to $850 million; and the maturity date was extended to November 2017. Commitment levels within the existing syndicate of banks increased $165 million.

Four additional lenders joined the bank syndicate, accounting for the balance of the $265 million expansion in commitments under the asset-based loan facility. Borrowing costs under the facility were also reduced by 25 basis points.

Conn's, based in The Woodlands, Texas, currently operates more than 70 retail locations in Texas, Louisiana, Arizona, Oklahoma and New Mexico.

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