Regional Management Corp. (RM): debt financing — Regional Management Corp. enters new $355M senior revolving credit facility with improved terms

Regional Management Corp.

New facility of up to $355M, expandable to $420M, with BMO as agent; matures August 2028.
Interest rate spread reduced from 310 bps to 275 bps; maximum leverage increased to 6.0x from 5.25x.
Terminated prior $355M facility that was due September 2025; prior obligations refinanced.
Warehouse facility amendments align definitions with new senior facility; net worth covenant set at 6.0x.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Regional Management Corp. incurred revolving credit of up to $355.0 million with BMO Harris Financing, Inc., Banc of California, Texas Capital Bank, EverBank, N.A., and First Horizon Bank, with Bank of Montreal ("BMO"), as agent at one-month SOFR, with a SOFR floor of 0.50%, plus a margin of 2.75% maturing August 19, 2028.

Instrument: revolving credit
Principal: up to $355.0 million
Counterparty: BMO Harris Financing, Inc., Banc of California, Texas Capital Bank, EverBank, N.A., and First Horizon Bank, with Bank of Montreal ("BMO"), as agent
Rate: one-month SOFR, with a SOFR floor of 0.50%, plus a margin of 2.75%
Maturity: August 19, 2028
Event: incurrence

Exact text from the filing

N.A., and First Horizon Bank, with Bank of Montreal (“ BMO ”), as agent. The key aspects of the Loan Agreement are as follows: (i) a senior revolving credit facility of up to $355.0 million, with an accordion provision allowing for expansion to $420.0 million; (ii) maximum leverage under the Loan Agreement increased from 5.25x in the Prior Loan Agreement (as defined

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Source: SEC EDGAR

accession 0000950170-25-111237

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