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Rent-A-Center starts roadshow Monday for $250 million eight-year notes
By Paul A. Harris
St. Louis, April 25 - Rent-A-Center, Inc. begins the roadshow Monday for an offering of $250 million of senior subordinated notes due 2010 (B1/B+), according to a market source.
The deal is expected to price late in the week of April 28.
Lehman Brothers, JP Morgan and Morgan Stanley are joint bookrunners.
The Rule 144A notes will be will likely be callable in the three-to-four year range, according to a syndicate source.
Proceeds will be used to repurchase and redeem the company's 11% senior subordinated notes due 2008.
The issuer is a Plano, Texas-based rental purchase company.
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