Regional Management completes $250M securitization at 5.34% WAC, pays off 7.51% notes

Regional Management Corp.

Issued $250M asset-backed notes at weighted-average coupon 5.34%, an 85 bps improvement over prior 2024-1 deal.
Proceeds used to fully redeem RMIT 2022-2B notes (original WAC 7.51%), refinancing at lower cost.
Deal was 5.4x oversubscribed; Class A notes rated AAA by S&P and DBRS; secured by $284M receivables with 2-year revolving period.
Post-closing, fixed-rate debt is ~83% of total debt, with a 4.1% WAC and 1.4-year weighted-average revolving duration.
Also amended warehouse facility extending Scheduled Commitment Termination Date to November 2026.

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