World Acceptance amends credit facility, lowering fixed charge covenant and enabling SPV formation

WORLD ACCEPTANCE CORP

Fixed charge coverage ratio reduced to 2.10x for quarters ending Mar 2022 through Jun 2023; then reverts to 2.75x.
Borrower may form up to two SPV subsidiaries for warehouse or securitization.
Benchmark interest rate transitioned from 1-month LIBOR to term SOFR.
$205,500 non-refundable amendment fee paid to lenders.
Amendment effective May 3, 2022.

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