The Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with Rent-A-Center, Inc.’s $200 million term loan facility and $300 million ABL revolving credit facility. Proceeds from the facilities were used to refinance Rent-A-Center Inc.’s existing ABL facility and its existing senior notes. Both facilities closed on August 5, 2019.
Rent-A-Center Inc. (NASDAQ: RCII) is one of the largest rent-to-own operators in North America, focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality durable products under flexible rental purchase agreements with no long-term obligation.
The Simpson Thacher team included Jessica Tuchinsky, Erland Modesto, Brandan Still, Jonathan Zane, Andrew Lanius, Kalyan Venkatraj and Michael Paparozzi (Banking and Credit); Genevieve Dorment and Ellie Gladstone (Intellectual Property); Brian Mendick (Tax); Abram Ellis, Mark Skerry and Tomi Mendel (Regulatory); Adeeb Fadil and Timothy Mulvihill (Environmental); Alexander Ellebracht (ECEB); Krista McManus (Real Estate); and Jon Pall (Collateral). Summer Associate Ashley See also provided valuable assistance.