---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-294449"
form_type: "8-K"
ticker: "RM"
cik: "0001519401"
company_name: "Regional Management Corp."
filed_at: "2022-11-29T23:59:59+00:00"
generated_at: "2026-06-21T12:15:54.096244+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Regional Management Corp. Amends Credit Facilities and Basswood Cooperation Agreement

## Summary
- Sixth Amendment reduced revolving credit facility commitments to $420 million and adjusted borrowing base to 48%-83% of eligible receivables through Jan 2023.
- RMR V warehouse facility amendment extended scheduled commitment termination to Nov 28, 2024, replaced LIBOR with SOFR, and increased interest margin to 2.75%.
- Letter agreement with Basswood Capital Management set minimum ownership threshold to lesser of 7.5% or 718,657 shares and extended standstill through 2024.
- Added minimum total portfolio collateral performance covenant of 21% and raised collateral performance indicator to 50% for months Oct 2022 through Jan 2023.

## SEC filing metadata
- accession: 0001193125-22-294449
- form_type: 8-K
- ticker: RM
- cik: 0001519401
- company_name: Regional Management Corp.
- filed_at: 2022-11-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/0001193125-22-294449-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/d387312d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-294449
- JSON: https://secwatch.observer/filing/0001193125-22-294449.json
- Plain text: https://secwatch.observer/filing/0001193125-22-294449.txt

## Key facts
- Material Agreements
  Regional Management Corp. amended Letter Agreement with Basswood Capital Management, L.L.C. (effective 2022-11-28).
  - Action: amendment
  - Counterparty: Basswood Capital Management, L.L.C.
  - Effective: 2022-11-28
  source text: On November 28, 2022, the Company entered into a letter agreement (the “ Letter Agreement ”) with Basswood Capital Management, L.L.C. (“ Basswood ”) that amends the Cooperation Agreement, dated as of January 26, 2018, by and between Basswood and the Company (the “ Cooperation Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/0001193125-22-294449-index.htm
- Material Agreements
  Regional Management Corp. amended RMR V Amendment with JPMorgan Chase Bank, N.A., as administrative agent (effective 2022-11-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Effective: 2022-11-22
  source text: On November 22, 2022, the Company and its wholly-owned subsidiary, Regional Management Receivables V, LLC (“ RMR V ”), entered into the Amendment No. 4 to Credit Agreement (the “ RMR V Amendment ”), by and among the Company, as servicer, RMR V, as borrower, the lenders parties thereto, JPMorgan Chase Bank, N.A., as administrative agent (the “ Administrative Agent ”), and Wells Fargo Bank, National Association, acting through its corporate trust services division, as account bank and backup servicer (the “ Account Bank ” and “ Backup Servicer ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/0001193125-22-294449-index.htm
- Material Agreements
  Regional Management Corp. amended Sixth Amendment with Wells Fargo Bank, National Association, as agent valued at $420 million (effective 2022-11-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as agent
  - Value: $420 million
  - Effective: 2022-11-22
  source text: The Sixth Amendment amends the Loan Agreement to, among other things, (i) remove Axos Bank as a lender and reduce the commitments of the remaining lenders under the credit facility to $420 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/0001193125-22-294449-index.htm

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