Regional Management, a diversified consumer finance company, amended its senior revolving credit facility agreement. The committed line under the credit facility increased to $585 million from $538 million and the maturity date was extended from September 2018 to August 2019. The upper limit of the accordion feature of the credit facility also increased to $650 million from $600 million.
According to a related 8-K filing, Bank of America served as administrative agent for the lenders
Each lender in the bank group is maintaining or increasing its commitment under the renewed credit facility. Other borrowing terms under the facility, including the cost of funds, remain largely unchanged.
“We deeply value the relationship we have developed with our bank group, and we want to thank our lenders for their continued confidence and support,” said Peter R. Knitzer, CEO of Rregional Management. “We expect to use the expanded facility to further fund our ongoing growth initiatives.”