secwatch.observer — SEC 8-K summary
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Issuer:     Regional Management Corp. (RM)
CIK:        0001519401
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0000950170-23-012100
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Regional Management Corp. enters $75M revolving warehouse credit agreement for consumer loan financing
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- $75 million warehouse facility secured by consumer loans and a SUBI certificate.
- Advance rate 80% (74% upon Level I Trigger Event); interest at Adjusted Term SOFR + 3.00% margin plus step-up.
- Revolving period through October 3, 2024; legal final maturity 12 months after revolving period ends.
- Covenants include delinquency, charge-off, and excess spread ratio maintenance; trigger events could accelerate maturity.
- BMO Capital Markets Corp. serves as administrative agent; Computershare as backup servicer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519401/000095017023012100/0000950170-23-012100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519401/000095017023012100/rm-20230403.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-012100

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