Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
WORLD ACCEPTANCE CORP amended credit facility of $580 million with Wells Fargo Bank, National Association maturing June 7, 2026.
- Instrument
- credit facility
- Principal
- $580 million
- Counterparty
- Wells Fargo Bank, National Association
- Maturity
- June 7, 2026
- Event
- amendment
Exact text from the filing
The Tenth Amendment amends the Company’s Amended and Restated Revolving Credit Agreement to, among other things: i. Reduce the total commitments under the facility from $685 million to $580 million; ii. Increase the amount available under the accordion feature from $100 million to $150 million (for a total commitment, if the full accordion is borrowed, of $730 million); iii. Extend the maturity to June 7, 2026 (from June 7, 2024); iv. Change the ratio of Net Income Available for Fixed Charges to Fixed Charges from not less than 2.75 to 1 to not less than 2.25 to 1 starting with the fiscal quarter ending March 31, 2024; and v. Replace certain lenders and amend the commitment levels of certain lenders.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
WORLD ACCEPTANCE CORP amended Tenth Amendment with lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent valued at Reduce the total commitments under the facility from $685 million to $580 million; Increase the amou (effective 2023-07-18).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent
- Value
- Reduce the total commitments under the facility from $685 million to $580 million; Increase the amou
- Effective
- 2023-07-18
Exact text from the filing
On July 18 th , 2023, World Acceptance Corporation (the “Company”) entered into the Tenth Amendment to its Amended and Restated Revolving Credit Agreement (the “Tenth Amendment”)
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