Conn’s Inc. Strikes Deal on Asset-Backed Fixed Rate Notes

Conn’s (CONN) has released an update to notify the public and investors about an entry into a material definitive agreement.

On January 19, 2024, Conn’s, Inc. and its subsidiaries entered into a Note Purchase Agreement with a group of initial purchasers for the sale of various classes of Asset Backed Fixed Rate Notes, with anticipated issuance on January 26, 2024. The notes, which include Class A, B, and C notes with rates of 7.05%, 9.80%, and 10.34% respectively, as well as Class R Notes, are not registered under the Securities Act of 1933 and will be sold to qualified institutional buyers or non-U.S. persons in compliance with certain securities regulations. The Class R Notes will be retained by the Depositor to satisfy risk retention obligations.

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