debt
confidence high
sentiment positive
materiality 0.65
Regional Management Corp. completes $187.3M ABS notes at 6.19% WAC, 132 bps lower
Regional Management Corp.
- $187.3M ABS notes issued at weighted-average coupon 6.19%, 132 bps improvement over prior RMIT 2022-2B.
- Secured by $215.7M consumer loan receivables; 3-year revolving period ending May 2027.
- Class A notes rated 'AAA' by S&P and Morningstar DBRS; all notes investment-grade.
- Proceeds used to repay existing debt under senior revolver and warehouse facilities.
- Fixed-rate debt at closing: 87% of total debt, WAC 4.1%, weighted-average revolving duration 1.2 years.