debt
confidence high
sentiment positive
materiality 0.60
RM completes $253M asset-backed notes at 4.83% WAC, cuts variable-rate debt
Regional Management Corp.
- $252.8M notes issued in 4 tranches (Class A 4.59%, B 5.00%, C 5.36%, D 6.01%); WAC 4.83%.
- 47 bps improvement over prior 2025-1 securitization; Class A rated AAA by S&P and Morningstar DBRS.
- Proceeds used to pay down variable-rate credit facilities and fully redeem $248.7M 2021-1 notes.
- After closing, ~89% of total debt is fixed-rate at 4.7% WAC with 1.2-year weighted-average revolver duration.