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 amended credit facility of $340 million with group of lenders comprising BMO Harris Bank N.A., Axos Bank, BOKF, NA, MUFG Union Bank, N.A., First Horizon Bank, Commerce Bank, Arvest Bank at 1.0% plus base rate for base rate revolver loans and 3.5% plus adjusted Term SOF maturing September 30, 2025.
- Instrument
- credit facility
- Principal
- $340 million
- Counterparty
- group of lenders comprising BMO Harris Bank N.A., Axos Bank, BOKF, NA, MUFG Union Bank, N.A., First Horizon Bank, Commerce Bank, Arvest Bank
- Rate
- 1.0% plus base rate for base rate revolver loans and 3.5% plus adjusted Term SOF
- Maturity
- September 30, 2025
- Event
- amendment
Exact text from the filing
Amendment No. 6 to the Agreement (the “Amendment”) extends the term of the Company’s revolving credit facilities to September 30, 2025 and reduces the total permitted borrowings from $600 million to $340 million, including a reduction in the Colonial revolving line of credit from $570 million to $310 million.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AMERICAS CARMART INC amended Amendment No. 6 to the Third Amended and Restated Loan and Security Agreement with a group of lenders valued at reduces the total permitted borrowings from $600 million to $340 million (effective 2024-02-28).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- a group of lenders
- Value
- reduces the total permitted borrowings from $600 million to $340 million
- Effective
- 2024-02-28
Exact text from the filing
On February 28, 2024, America’s Car-Mart, Inc., a Texas corporation (the “Company”), and its subsidiaries, Colonial Auto Finance, Inc., an Arkansas corporation (“Colonial”), America’s Car Mart Inc., an Arkansas corporation (“ACM”), and Texas Car-Mart, Inc., a Texas corporation (“TCM” and collectively with Colonial and ACM, the “Borrowers”), entered into Amendment No. 6 to the Third Amended and Restated Loan and Security Agreement (“Agreement”), dated as of September 30, 2019, by and among the Company, Colonial, ACM, TCM and a group of lenders, as previously amended on October 29, 2020, February 10, 2021, September 29, 2021, April 22, 2022 and February 22, 2023.
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