Rent-A-Center Announces Intent to Refinance Existing Senior Credit Facility

Rent-A-Center, Inc. RCII today announced that, subject to market and other conditions, it anticipates refinancing its current senior debt by entering into a new $750 million senior credit facility, consisting of $250 million in term loans and a $500 million revolving credit facility. The Company's existing $375 million revolving credit facility expires September 30, 2013. The Company expects to complete the transaction in the third quarter of 2011, and intends to repay its existing senior term debt, currently approximately $358 million outstanding, with the proceeds of the new term loans and by drawing approximately $108 million on the revolving credit facility.