World Acceptance obtains temporary covenant relief on credit facility through Sept 2026

WORLD ACCEPTANCE CORP

Fixed charge coverage covenant lowered to 2.20x (Mar 2026), 2.10x (Jun 2026), and 2.15x (Sep 2026), from 2.25x.
Consenting lenders received a fee of 0.03% of aggregate commitments for the modification.
Original 2.25x minimum covenant resumes for fiscal quarter ending Dec 31, 2026 and thereafter.
Company represents that no event of default exists after giving effect to the modification.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WORLD ACCEPTANCE CORP amended Consent and Limited Modification to Fixed Charge Ratio with Bank of Montreal (effective 2026-05-22).

Action: amendment
Agreement: credit facility
Counterparty: Bank of Montreal
Effective: 2026-05-22

Exact text from the filing

On May 22, 2026, World Acceptance Corporation (the "Company") entered into a Consent and Limited Modification to Fixed Charge Ratio (the "Modification") with Bank of Montreal ("BMO"), as Administrative Agent and Collateral Agent, and the Required Lenders party to the Revolving Credit Agreement dated as of July 22, 2025 (as amended or otherwise modified from time to time, the "Credit Agreement"), by and among the Company, the lenders from time to time party thereto, and BMO, as Administrative Agent and Collateral Agent.

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WORLD ACCEPTANCE CORP filing history →

Source: SEC EDGAR

accession 0000108385-26-000011

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