The Woodlands, Texas -- 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 Nov. 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.