Texas-based rent-to-own operator Rent-A-Center has secured a senior credit facility worth $750 million. The new facility is a combination of term loans and revolving credit line.

The facility comprises of term loans worth $250 million and a revolving credit facility of $500 million. Rent-A-Center plans to use the proceeds from the loan to repay its existing senior term debt.

Click here for the release from Business Wire.