Conn's Announces Completion of Real Estate Financing

Conn's, Inc. (NASDAQ: CONN) today announced that on July 28, 2011, it completed an $8 million real estate loan to finance three owned store locations.

The proceeds from the loan, which is provided by CommunityBank of Texas, N.A., were used to repay a portion of the Company's term loan. The real estate loan will mature in July 2016, and requires monthly principal payments based on a 15-year amortization schedule. The interest rate on the loan is the Prime rate plus 100 basis points, with a floor on the total rate of 6%. CommunityBank of Texas is also a participant in the Company's revolving credit facility.