America’s Car-Mart, Inc. Completes $200 Million Term Securitization
America's Car-Mart (NASDAQ: CRMT) has successfully completed a $200 million term securitization transaction through ACM Auto Trust 2025-1. The transaction includes $150.77 million of Class A Notes with a 5.38% coupon rate and $49.23 million of Class B Notes with a 7.87% coupon rate, resulting in an overall weighted average coupon of 6.49%.
The transaction was over 10 times oversubscribed and showed a 95 basis point improvement in weighted average coupon compared to the October 2024 securitization. According to CFO Vickie Judy, this strong demand reflects confidence in the company's asset quality, particularly as their portfolio benefits from the migration to a new loan origination system (LOS).
America's Car-Mart (NASDAQ: CRMT) ha completato con successo una transazione di cartolarizzazione a termine da 200 milioni di dollari attraverso ACM Auto Trust 2025-1. La transazione comprende 150,77 milioni di dollari in Note di Classe A con un tasso di interesse del 5,38% e 49,23 milioni di dollari in Note di Classe B con un tasso di interesse del 7,87%, risultando in un tasso medio ponderato complessivo del 6,49%.
La transazione è stata sovrascritta oltre 10 volte e ha mostrato un miglioramento di 95 punti base nel tasso medio ponderato rispetto alla cartolarizzazione di ottobre 2024. Secondo il CFO Vickie Judy, questa forte domanda riflette la fiducia nella qualità degli asset dell'azienda, specialmente poiché il loro portafoglio beneficia della migrazione a un nuovo sistema di origine prestiti (LOS).
America's Car-Mart (NASDAQ: CRMT) ha completado con éxito una transacción de titulización por 200 millones de dólares a través de ACM Auto Trust 2025-1. La transacción incluye 150,77 millones de dólares en Notas de Clase A con una tasa de cupón del 5,38% y 49,23 millones de dólares en Notas de Clase B con una tasa de cupón del 7,87%, resultando en un cupón ponderado promedio general del 6,49%.
La transacción tuvo una demanda más de 10 veces superior y mostró una mejora de 95 puntos básicos en el cupón ponderado promedio en comparación con la titulización de octubre de 2024. Según la CFO Vickie Judy, esta fuerte demanda refleja la confianza en la calidad de los activos de la empresa, especialmente porque su cartera se beneficia de la migración a un nuevo sistema de originación de préstamos (LOS).
아메리카스 카마트 (NASDAQ: CRMT)는 ACM Auto Trust 2025-1을 통해 2억 달러 규모의 기간 유동화 거래를 성공적으로 완료했습니다. 이 거래에는 1억 5천77만 달러의 A급 노트가 5.38%의 쿠폰 금리를 가지고 있으며, 4천923만 달러의 B급 노트는 7.87%의 쿠폰 금리를 가지고 있어, 전체 가중 평균 쿠폰은 6.49%에 달합니다.
이번 거래는 10배가 넘는 초과 청약이 있었으며, 2024년 10월 유동화에 비해 가중 평균 쿠폰이 95 베이시스 포인트 개선된 결과를 보였습니다. CFO 비키 주디(Vickie Judy)에 따르면, 이러한 강한 수요는 회사 자산의 품질에 대한 신뢰를 반영하며, 특히 그들의 포트폴리오는 새로운 대출 기원 시스템(LOS)으로의 이전으로 혜택을 보고 있습니다.
America's Car-Mart (NASDAQ: CRMT) a réussi à compléter une transaction de titrisation à terme de 200 millions de dollars via ACM Auto Trust 2025-1. La transaction comprend 150,77 millions de dollars en Obligations de Classe A avec un taux de coupon de 5,38 % et 49,23 millions de dollars en Obligations de Classe B avec un taux de coupon de 7,87 %, entraînant un coupon moyen pondéré global de 6,49 %.
La transaction a été souscrite plus de 10 fois et a montré une amélioration de 95 points de base du coupon moyen pondéré par rapport à la titrisation d'octobre 2024. Selon la CFO Vickie Judy, cette forte demande reflète la confiance dans la qualité des actifs de l'entreprise, d'autant plus que leur portefeuille bénéficie de la migration vers un nouveau système d'origine de prêts (LOS).
America's Car-Mart (NASDAQ: CRMT) hat erfolgreich eine 200-Millionen-Dollar-Transaktion zur Verbriefung über ACM Auto Trust 2025-1 abgeschlossen. Die Transaktion umfasst 150,77 Millionen Dollar an Klasse A-Urkunden mit einem Kuponzinssatz von 5,38 % und 49,23 Millionen Dollar an Klasse B-Urkunden mit einem Kuponzinssatz von 7,87 %, was zu einem insgesamt gewichteten Durchschnitt von 6,49 % führt.
Die Transaktion war mehr als 10 Mal überzeichnet und zeigte eine Verbesserung von 95 Basispunkten im gewichteten Durchschnittszinssatz im Vergleich zur Verbriefung im Oktober 2024. Laut CFO Vickie Judy spiegelt diese starke Nachfrage das Vertrauen in die Vermögensqualität des Unternehmens wider, insbesondere da ihr Portfolio von der Migration zu einem neuen Kreditvergabe-System (LOS) profitiert.
- Secured $200 million in term securitization financing
- Transaction was over 10 times oversubscribed, indicating strong investor demand
- Weighted average coupon improved by 95 basis points from previous securitization
- Portfolio showing improved asset quality with new loan origination system
- None.
Insights
The successful completion of America's Car-Mart's
The improved pricing structure, featuring Class A Notes at
Key strategic implications include:
- Enhanced financial flexibility through diversified funding sources
- Validation of the new loan origination system's effectiveness in improving asset quality
- Strengthened market positioning in the used car financing sector
- Improved ability to compete with larger players through reduced funding costs
The strong investor demand, reflected in the oversubscription rate, suggests that institutional investors are increasingly confident in Car-Mart's underwriting practices and asset performance. This could potentially lead to even more favorable terms in future securitizations, creating a positive feedback loop for the company's funding strategy.
Weighted average coupon improved 95 basis points from prior October 2024 securitization
Transaction over 10 times oversubscribed
ROGERS, Ark., Feb. 03, 2025 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) (“we,” “Car-Mart” or the “Company”), announced today that it has completed a term securitization transaction involving the issuance of
ACM Auto Trust 2025-1 issued
“We are encouraged by the strong demand for our 2025-1 securitization. Compared to our October 2024 securitization, the weighted average coupon improved by 95 basis points. We believe this reflects confidence in our asset quality, particularly as the portfolio continues to benefit from the migration to our new loan origination system (LOS),” said Vickie Judy, Chief Financial Officer.
ACM Auto Trust 2025-1 is an indirect subsidiary of the Company. The notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release does not and will not constitute an offer to sell or the solicitation of an offer to buy the notes. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About America’s Car-Mart, Inc.
America’s Car-Mart, Inc. (the “Company”) operates automotive dealerships in 12 states and is one of the largest publicly held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market. The Company emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in smaller cities throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. For more information about America’s Car-Mart, including investor presentations, please visit our website at www.car-mart.com.
Contact:
Vickie Judy, CFO
479-464-9944
Investor_relations@car-mart.com
FAQ
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