---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-005617"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2024-01-22T23:59:59+00:00"
generated_at: "2026-06-06T20:32:31.407574+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# OPENLANE enters into C$175M Canadian revolver and C$50M sublimit to finance Manheim Canada acquisition

## Summary
- First Amendment establishes C$175M 2024 Canadian Revolving Facility for ADESA Auctions Canada.
- Also creates a C$50M Canadian sublimit borrowable under the existing revolving facility.
- Proceeds to partially fund asset acquisition from Manheim Canada, plus fees and working capital.
- Interest on CORRA loans ranges from CORRA +2.50% to +3.00%; Prime loans from Prime +1.50% to +2.00%.

## SEC filing metadata
- accession: 0001104659-24-005617
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2024-01-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000110465924005617/0001104659-24-005617-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000110465924005617/tm243758d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-005617
- JSON: https://secwatch.observer/filing/0001104659-24-005617.json
- Plain text: https://secwatch.observer/filing/0001104659-24-005617.txt

## Key facts
- Material Agreements
  OPENLANE, Inc. amended First Amendment with JPMorgan Chase Bank, N.A., as administrative agent valued at C$175,000,000 (effective 2024-01-19).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Value: C$175,000,000
  - Effective: 2024-01-19
  source text: OPENLANE, Inc. (the “ Company ”) and ADESA Auctions Canada Corporation, a subsidiary of the Company (the “ Canadian Borrower ”), entered into a First Amendment Agreement (the “ First Amendment ”) to the Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1395942/000110465924005617/0001104659-24-005617-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.