Regional Management, a diversified consumer finance company, closed its first securitization backed by large loan receivables. The senior class of the securitization received an “AA” rating from DBRS.
Regional Management, a diversified consumer finance company, and its wholly-owned subsidiary, Regional Management Receivables II, have entered into a revolving $125 million warehouse facility. The company also increased its line under its senior revolving credit facility to $638 million.
Regional Management amended its senior revolver credit facility with a lender group led by Bank of America as administrative agent. The facility was increased to $585 million from $538 million.
Regional Management and its wholly-owned subsidiary, Regional Management Receivables, entered into a credit agreement with Wells Fargo Bank as lender, providing for a $75 million amortizing loan.
Regional Management said it has amended its senior revolver receiving an increase to $538 million from its previous amount of $500 million. Bank of America serves as administrative agent for a syndicate of lenders.
Regional Management received an increase in the availability of its senior revolving credit facility to $500 million, with Bank of America serving as agent for the syndicate of lenders.