Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AMERICAS CARMART INC entered an off-balance-sheet arrangement for debt of $271,640,000 aggregate principal amount of 7.97% Class A Asset Backed Notes and $88,700,000 aggregate principal amount o at 7.97% ... 9.85% maturing mature on June 20, 2030.
- Principal
- $271,640,000 aggregate principal amount of 7.97% Class A Asset Backed Notes and $88,700,000 aggregate principal amount o
- Rate
- 7.97% ... 9.85%
- Maturity
- mature on June 20, 2030
- Event
- off balance sheet
Exact text from the filing
On July 6, 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 $271,640,000 aggregate principal amount of 7.97% Class A Asset Backed Notes (the “Class A Notes”) and $88,700,000 aggregate principal amount of 9.85% Class B Asset Backed Notes (the “Class B Notes” and, together with the Class A Notes, the “Notes”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AMERICAS CARMART INC entered into Indenture with ACM Auto Trust 2023-2 (Issuer) and Wilmington Trust, National Association (Trustee) (effective 2023-07-06).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- ACM Auto Trust 2023-2 (Issuer) and Wilmington Trust, National Association (Trustee)
- Effective
- 2023-07-06
Exact text from the filing
The Notes were issued pursuant to an Indenture, dated July 6, 2023, by and between the Issuer and the Trustee (the "Indenture").
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AMERICAS CARMART INC entered into Purchase Agreement with Colonial Auto Finance, Inc. (Seller) and ACM Funding, LLC (Depositor) (effective 2023-07-06).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Colonial Auto Finance, Inc. (Seller) and ACM Funding, LLC (Depositor)
- Effective
- 2023-07-06
Exact text from the filing
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 July 6, 2023, by and between the Seller and the Depositor (the "Purchase Agreement").
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AMERICAS CARMART INC entered into Sale and Servicing Agreement with ACM Funding, LLC (Depositor), ACM Auto Trust 2023-2 (Issuer), America's Car Mart, Inc. (Servicer), and Wilmington Trust, National Association (Trustee) (effective 2023-07-06).
- Action
- entry
- Counterparty
- ACM Funding, LLC (Depositor), ACM Auto Trust 2023-2 (Issuer), America's Car Mart, Inc. (Servicer), and Wilmington Trust, National Association (Trustee)
- Effective
- 2023-07-06
Exact text from the filing
The Receivables were then sold by the Depositor to the Issuer pursuant to a Sale and Servicing Agreement, dated July 6, 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").
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