- Conn's (NASDAQ:CONN) entered into an agreement to securitize an aggregate of approx. $700M of retail installment contract receivables through offering of three classes of fixed rate notes closing on or about October 6, 2016.
- $391.84M Class A asset backed notes bearing coupon rate of 3.73% is expected to be rated BBBsf by Fitch.
- $111.96M Class B asset backed notes bearing coupon rate of 7.34% is expected to be rated BBsf by Fitch.
- $48.98M Class C asset backed fixed rate notes and residual equity will initially be retained by an affiliate of the Company.
- Net proceeds of class A and class B notes of approx. $488M, net of transaction costs and reserves.
- Press Release