secwatch.observer — SEC 8-K summary
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Issuer:     WORLD ACCEPTANCE CORP (WRLD)
CIK:        0000108385
Form:       8-K
Filed at:   2025-10-03T23:59:59+00:00
Accession:  0000108385-25-000089
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

World Acceptance Corp enters $175M warehouse facility for consumer loans
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- Revolving $175M facility secured by consumer loan receivables; advance rate 75% (70% on trigger event).
- Interest rate: Adjusted Term SOFR + 3.00% margin, floor 1%; Step-Up Margin up to 2.50% after default.
- Revolving period ends September 29, 2027; legal final maturity 12 months later.
- Recourse limited to repurchase or substitute ineligible receivables; servicer must maintain delinquency and charge-off ratios.
- Borrower paid upfront fee; prepayment allowed without penalty except breakage costs and exit fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108385/000010838525000089/0000108385-25-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108385/000010838525000089/wrld-20250929.htm
  HTML page:      https://secwatch.observer/filing/0000108385-25-000089

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