Car-Mart completes $200 million securities transaction
by February 3, 2025 10:32 am 248 views
Rogers-based America’s Car-Mart Inc. has completed a $200 million securities transaction that was more than 10 times oversubscribed, according to a Monday (Feb. 3) news release.
The weighted average coupon was 6.49%, up 0.95 percentage points compared to its October securities transaction.
ACM Auto Trust 2025-1, an indirect Car-Mart subsidiary, issued $150.77 million of class A notes and $49.23 million of class B notes. The class A notes have a coupon rate of 5.38%, and the class B notes have a coupon rate of 7.87%.
“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,” said Vickie Judy, chief financial officer of Car-Mart. “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).”
Shares of Car-Mart (NASDAQ: CRMT) were trading Monday morning at $48.10, down 59 cents or 1.21%. In the past 52 weeks, the stock has ranged between $37.98 and $74.10.