Vision Refinances BrightHouse

Vision Capital has completed the debt refinancing of BrightHouse, a UK rent-to-own retailer, with over 100 million pounds (US$ 159.5 million) of senior debt facilities. The financing was provided by a consortium of Lloyds Banking Group, GE Capital and Ares Capital Europe and will be used for repayment of existing financing and working capital.

PRESS RELEASE

Vision Capital announces that it has successfully completed the debt refinancing of BrightHouse, the leading UK rent-to-own retailer, with over 100 million pounds (US$ 159.5 million) of senior debt facilities. The financing was provided by a consortium of Lloyds Banking Group, GE Capital and Ares Capital Europe and will be used for repayment of existing financing and working capital.

Alister Wormsley, Vision Capital’s Managing Partner, commented:

“We are pleased to have successfully completed the refinancing with three blue chip financial institutions. The refinancing is a reflection of BrightHouse’s successful track record, strong cash generation and ambitious growth plans. It will ensure that BrightHouse has the appropriate capital structure to further invest in the business and extend its footprint across the UK.”

Leo McKee, Chief Executive of BrightHouse, commented:

“I am delighted that Vision Capital and the team at BrightHouse have completed this refinancing. We are performing strongly and this gives us the platform to continue to deliver robust growth going forward.”