---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-103361"
form_type: "8-K"
ticker: "JCAP"
cik: "0002046042"
company_name: "Jefferson Capital, Inc. / DE"
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:45:15.118559+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Jefferson Capital acquires Bluestem credit card portfolio for $302.8M; amends credit facility to $1B

## Summary
- Acquires revolving credit card receivables with $488.2M face value; purchase price $302.8M, subject to adjustments.
- Closing expected in Q4 2025; no ongoing originations through Bluestem; servicing to transition to CardWorks.
- Credit facility increased by $175M to $1.0B; interest rate margin reduced by 50 bps.
- Maturity extended to October 27, 2030, subject to earlier date tied to existing senior notes.
- Amendment removes minimum tangible net worth covenant; permits distributions up to 6% of market cap or specified quarterly dividend.

## SEC filing metadata
- accession: 0001104659-25-103361
- form_type: 8-K
- ticker: JCAP
- cik: 0002046042
- company_name: Jefferson Capital, Inc. / DE
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2046042/000110465925103361/0001104659-25-103361-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2046042/000110465925103361/tm2529672d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-103361
- JSON: https://secwatch.observer/filing/0001104659-25-103361.json
- Plain text: https://secwatch.observer/filing/0001104659-25-103361.txt

## Key facts
- Debt Financings
  Jefferson Capital, Inc. / DE amended credit facility of $1,000,000,000 with Citizens Bank, N.A. at reduced by fifty (50) basis points maturing October 27, 2030.
  - Instrument: credit facility
  - Principal: $1,000,000,000
  - Counterparty: Citizens Bank, N.A.
  - Rate: reduced by fifty (50) basis points
  - Maturity: October 27, 2030
  - Event: amendment
  source text: The Amendment effected certain amendments to the terms of the credit facility under the Existing Credit Agreement, including, among other things, to (i) increase the Aggregate Commitments (as defined in the Amended Credit Agreement) by $175,000,000 to an aggregate amount of $1,000,000,000, (ii) reduce the interest rate margins applicable to loans outstanding under the credit facility by fifty (50) basis points
  evidence_url: https://www.sec.gov/Archives/edgar/data/2046042/000110465925103361/0001104659-25-103361-index.htm

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