---
schema_version: "secwatch.filing_event.v1"
accession: "0001395942-22-000062"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2022-10-03T23:59:59+00:00"
generated_at: "2026-06-23T05:53:15.984309+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# KAR Auction Services increases receivables facility to $2.0B, extends maturity to Jan 2026

## Summary
- Aggregate maximum commitment under US Receivables Purchase Agreement increased from $1.70B to $2.00B.
- Termination date for both US and Canadian agreements extended from Jan 31, 2024 to Jan 31, 2026.
- Discount rate now based on SOFR for one-month tenor plus a spread.
- Required enhancement percentage reduced; net spread trigger for level one trigger favorably modified.
- Canadian program limit remains at $225.0 million.

## SEC filing metadata
- accession: 0001395942-22-000062
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2022-10-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000139594222000062/0001395942-22-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000139594222000062/kar-20220928.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001395942-22-000062
- JSON: https://secwatch.observer/filing/0001395942-22-000062.json
- Plain text: https://secwatch.observer/filing/0001395942-22-000062.txt

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