--- schema_version: "secwatch.filing_event.v1" accession: "0001171843-23-000688" form_type: "8-K" ticker: "CRMT" cik: "0000799850" company_name: "AMERICAS CARMART INC" filed_at: "2023-02-06T23:59:59+00:00" generated_at: "2026-06-20T00:37:49.976745+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # America's Car-Mart completes $400M auto loan securitization with four tranches ## Summary - Issued $230.4M Class A notes at 6.61%, $46.8M Class B at 7.26%, $74.1M Class C at 8.59%, $48.9M Class D at 12.58%. - Net proceeds of ~$398.2M used to repay outstanding debt and fund reserve accounts. - Notes mature January 22, 2030; collateralized by used-vehicle retail installment contracts. - S&P and Kroll rated Class A A(sf)/AA-(sf), Class B A-(sf)/A-(sf), Class C BBB(sf)/BBB-(sf), Class D BB(sf)/BB-(sf). ## SEC filing metadata - accession: 0001171843-23-000688 - form_type: 8-K - ticker: CRMT - cik: 0000799850 - company_name: AMERICAS CARMART INC - filed_at: 2023-02-06T23:59:59+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/799850/000117184323000688/0001171843-23-000688-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/799850/000117184323000688/f8k_020323.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001171843-23-000688 - JSON: https://secwatch.observer/filing/0001171843-23-000688.json - Plain text: https://secwatch.observer/filing/0001171843-23-000688.txt ## Key facts - Debt Financings AMERICAS CARMART INC incurred debt of $230,390,000 aggregate principal amount of 6.61% Class A Asset Backed Notes, $46,800,000 aggregate principal amount of 7 with Credit Suisse Securities (USA) LLC and BMO Capital Markets Corp., as initial purchasers at 6.61% ... 7.26% ... 8.59% ... 12.58% maturing January 22, 2030. - Principal: $230,390,000 aggregate principal amount of 6.61% Class A Asset Backed Notes, $46,800,000 aggregate principal amount of 7 - Counterparty: Credit Suisse Securities (USA) LLC and BMO Capital Markets Corp., as initial purchasers - Rate: 6.61% ... 7.26% ... 8.59% ... 12.58% - Maturity: January 22, 2030 - Event: incurrence source text: On January 31, 2023, affiliates of America’s Car-Mart, Inc. (the “Company”) completed a securitization transaction (the “Securitization Transaction”), which involved the issuance and sale in a private offering of $230,390,000 aggregate principal amount of 6.61% Class A Asset Backed Notes (the “Class A Notes”), $46,800,000 aggregate principal amount of 7.26% Class B Asset Backed Notes (the “Class B Notes”), $74,100,000 aggregate principal amount of 8.59% Class C Asset Backed Notes (the “Class C Notes”), and $48,900,000 aggregate principal amount of 12.58% Class D Asset Backed Notes evidence_url: https://www.sec.gov/Archives/edgar/data/799850/000117184323000688/0001171843-23-000688-index.htm - Material Agreements AMERICAS CARMART INC entered into Purchase Agreement with Colonial Auto Finance, Inc. (Seller) and ACM Funding, LLC (Depositor) valued at Sale of customer receivable contracts for securitization (effective 2023-01-31). - Action: entry - Counterparty: Colonial Auto Finance, Inc. (Seller) and ACM Funding, LLC (Depositor) - Value: Sale of customer receivable contracts for securitization - Effective: 2023-01-31 source text: To execute the Securitization Transaction, Colonial Auto Finance, Inc., a wholly-owned subsidiary of the Company (the "Seller"), sold or conveyed certain customer receivable contracts (the "Receivables") (loans made to finance customer purchases of used vehicles from the Company's subsidiaries) to ACM Funding, LLC, an indirect wholly-owned subsidiary of the Company (the "Depositor"), pursuant to a Purchase Agreement, dated as of January 31, 2023, by and between the Seller and the Depositor (the "Purchase Agreement"). evidence_url: https://www.sec.gov/Archives/edgar/data/799850/000117184323000688/0001171843-23-000688-index.htm - Material Agreements AMERICAS CARMART INC entered into Sale and Servicing Agreement with ACM Funding, LLC (Depositor), ACM Auto Trust 2023-1 (Issuer), America's Car Mart, Inc. (Servicer), and Wilmington Trust, National Association (Trustee) valued at Sale of Receivables to Issuer and servicing of Receivables; service fee 4.00% annualized (effective 2023-01-31). - Action: entry - Counterparty: ACM Funding, LLC (Depositor), ACM Auto Trust 2023-1 (Issuer), America's Car Mart, Inc. (Servicer), and Wilmington Trust, National Association (Trustee) - Value: Sale of Receivables to Issuer and servicing of Receivables; service fee 4.00% annualized - Effective: 2023-01-31 source text: The Receivables were then sold by the Depositor to the Issuer pursuant to a Sale and Servicing Agreement, dated January 31, 2023, by and between the Depositor, the Issuer, America’s Car Mart, Inc., as servicer (the "Servicer"), and Wilmington Trust, National Association, as trustee (the "Trustee") (the "Sale and Servicing Agreement"). evidence_url: https://www.sec.gov/Archives/edgar/data/799850/000117184323000688/0001171843-23-000688-index.htm - Material Agreements AMERICAS CARMART INC entered into Indenture with ACM Auto Trust 2023-1 (Issuer) and Wilmington Trust, National Association (Trustee) valued at Issuance of $230,390,000 Class A, $46,800,000 Class B, $74,100,000 Class C, and $48,900,000 Class D (effective 2023-01-31). - Action: entry - Agreement: notes offering - Counterparty: ACM Auto Trust 2023-1 (Issuer) and Wilmington Trust, National Association (Trustee) - Value: Issuance of $230,390,000 Class A, $46,800,000 Class B, $74,100,000 Class C, and $48,900,000 Class D - Effective: 2023-01-31 source text: The Notes were issued pursuant to an Indenture, dated January 31, 2023, by and between the Issuer and the Trustee (the "Indenture"). evidence_url: https://www.sec.gov/Archives/edgar/data/799850/000117184323000688/0001171843-23-000688-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.