secwatch.observer — SEC 8-K summary
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Issuer:     Regional Management Corp. (RM)
CIK:        0001519401
Form:       8-K
Filed at:   2022-11-29T23:59:59+00:00
Accession:  0001193125-22-294449
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/0001193125-22-294449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519401/000119312522294449/d387312d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-294449

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