secwatch.observer — SEC 8-K summary
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Issuer:     WORLD ACCEPTANCE CORP (WRLD)
CIK:        0000108385
Form:       8-K
Filed at:   2022-05-06T23:59:59+00:00
Accession:  0000108385-22-000019
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108385/000010838522000019/0000108385-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108385/000010838522000019/wrld-20220503.htm
  HTML page:      https://secwatch.observer/filing/0000108385-22-000019

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