America's Car-Mart closes $172M ABS securitization; weighted average coupon improves 81 bps

AMERICAS CARMART INC

Issued $172M in asset-backed notes: $133.34M Class A (5.01%) and $38.62M Class B (6.08%).
Weighted average coupon 5.46%, improving 81 bps from May 2025 securitization and 308 bps since 2024-1.
Class A notes ~8x oversubscribed, Class B nearly 16x oversubscribed, indicating strong demand.
Net proceeds of ~$170.7M to repay outstanding debt and fund reserve accounts for noteholders.
Notes rated A(sf) and BBB(sf) by S&P; collateralized by $291.5M in customer installment contracts.

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