--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-24-008672" form_type: "8-K" ticker: null cik: "0001223389" company_name: "CONNS INC" filed_at: "2024-01-31T23:59:59+00:00" generated_at: "2026-06-06T13:02:52.744168+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.55 calibrated_materiality_score: 0.55 confidence: "high" source: SEC EDGAR --- # Conn's Inc. closes $353.6M receivables securitization; $252.6M net proceeds for debt repayment ## Summary - Issued $133.5M Class A (7.05%), $98.1M Class B (9.80%), $27.8M Class C (10.34%) notes due Jan 2029. - Net proceeds $252.6M to repay ABL facility and for general corporate purposes. - Notes secured by $353.6M of customer receivables; Fitch ratings: BBBsf/BBsf/B+sf. - Servicer Conn Appliances receives 4.75% annualized fee; Class R notes retained by affiliate. ## SEC filing metadata - accession: 0001104659-24-008672 - form_type: 8-K - cik: 0001223389 - company_name: CONNS INC - filed_at: 2024-01-31T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.55 - calibrated_materiality_score: 0.55 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/tm244574d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-24-008672 - JSON: https://secwatch.observer/filing/0001104659-24-008672.json - Plain text: https://secwatch.observer/filing/0001104659-24-008672.txt ## Key facts - Debt Financings CONNS INC incurred senior notes of $133,490,000 Asset Backed Fixed Rate Notes, Class A, Series 2024-A, due January 16, 2029; $98,120,000 Asset Backed Fixed with MUFG Securities Americas Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Regions Securities LLC at 7.05% ... 9.80% ... 10.34% maturing January 16, 2029. - Instrument: senior notes - Principal: $133,490,000 Asset Backed Fixed Rate Notes, Class A, Series 2024-A, due January 16, 2029; $98,120,000 Asset Backed Fixed - Counterparty: MUFG Securities Americas Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Regions Securities LLC - Rate: 7.05% ... 9.80% ... 10.34% - Maturity: January 16, 2029 - Event: incurrence source text: On January 26, 2024, affiliates of Conn’s, Inc. (the “ Company ”) completed a securitization transaction (the “ Securitization Transaction ”), which involved the issuance and sale in a private offering of 7.05% $133,490,000 Asset Backed Fixed Rate Notes, Class A, Series 2024-A, due January 16, 2029 (the “ Class A Notes ”), 9.80% $98,120,000 Asset Backed Fixed Rate Notes, Class B, Series 2024-A, due January 16, 2029 (the “ Class B Notes ”), and 10.34% $27,760,000 Asset Backed Fixed Rate Notes, Class C, Series 2024-A, due January 16, 2029 evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - Material Agreements CONNS INC entered into Base Indenture with Computershare Trust Company, National Association (effective 2024-01-26). - Action: entry - Agreement: notes offering - Counterparty: Computershare Trust Company, National Association - Effective: 2024-01-26 source text: The Series 2024-A Notes were issued by the Issuer pursuant to a Base Indenture, dated January 26, 2024, by and between the Issuer and the Trustee (the “ Base Indenture ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - Material Agreements CONNS INC entered into Purchase and Sale Agreement with Conn’s Receivables Funding 2024-A, LLC (effective 2024-01-26). - Action: entry - Agreement: asset purchase - Counterparty: Conn’s Receivables Funding 2024-A, LLC - Effective: 2024-01-26 source text: the Receivables Trust Certificate was sold by the Depositor to the Issuer pursuant to a Purchase and Sale Agreement, dated January 26, 2024, by and between the Depositor and the Issuer (the “ Purchase and Sale Agreement ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - Material Agreements CONNS INC entered into a underwriting with MUFG Securities Americas Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Regions Securities LLC. - Action: entry - Agreement: underwriting - Counterparty: MUFG Securities Americas Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Regions Securities LLC source text: The Purchased Notes were sold initially to MUFG Securities Americas Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Regions Securities LLC (collectively, the “ Initial Purchasers ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - Material Agreements CONNS INC entered into Second Receivables Purchase Agreement with Conn’s Receivables 2024-A Trust (effective 2024-01-26). - Action: entry - Counterparty: Conn’s Receivables 2024-A Trust - Effective: 2024-01-26 source text: pursuant to a Second Receivables Purchase Agreement, dated as of January 26, 2024, by and between the Depositor and the Receivables Trust (the “ Second Purchase Agreement ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm - Material Agreements CONNS INC entered into First Receivables Purchase Agreement with Conn Appliances Receivables Funding, LLC (effective 2024-01-26). - Action: entry - Counterparty: Conn Appliances Receivables Funding, LLC - Effective: 2024-01-26 source text: to Conn Appliances Receivables Funding, LLC, an indirect wholly owned subsidiary of the Company (the “ Depositor ”), pursuant to a First Receivables Purchase Agreement, dated as of January 26, 2024, by and between the Seller and the Depositor (the “ First Purchase Agreement ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000110465924008672/0001104659-24-008672-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.