Notwithstanding
the overall rise in interest rates, we believe the current
credit market and pricing of senior debt remains attractive as a
result of strong investor liquidity.
Robert D. Davis, Chief Financial Officer, Rent A Center
Rent A Center anticipates completing the transaction in
the third quarter of 2006, and intends to utilize the proceeds
of the new senior debt to repay its existing senior debt,
currently $388.9 million outstanding.
"Notwithstanding the overall rise in interest rates, we believe
the current credit market and pricing of senior debt remains
attractive as a result of strong investor liquidity.
Accordingly, we believe these factors should provide us with an
opportunity to lower our cost of capital and enhance our
financial flexibility," commented Mr. Robert D. Davis, the
Company's Chief Financial Officer.
Rent-A-Center operates 2,743 company-owned stores nationwide and
in Canada and Puerto Rico.
