RM completes $187.3M asset-backed securitization (RMIT 2024-1) at 6.19% weighted-average coupon

Regional Management Corp.

Issued $187.305M in four classes of notes (Class A 5.83%, B 6.45%, C 6.77%, D 7.46%); weighted-average coupon 6.19%.
Secured by $215.7M consumer loan pool; 3-year revolving period; Class A notes rated AAA by S&P and Morningstar DBRS.
Proceeds used to repay part of senior revolving credit facility and warehouse debt, reducing interest rate exposure.
Fixed-rate debt now 87% of total debt at 4.1% weighted-average coupon with 1.2-year weighted-average revolving duration.
Coupon improved 132 bps vs prior RMIT 2022-2B securitization, reflecting lower cost of capital.

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