Business
Regional Management Corp. Completes $265 Million Asset-Backed Securitization
GREENVILLE, S.C., April 02, 2025--Regional Management Corp. (NYSE: RM), a diversified consumer finance company, announced today that it has completed a $265 million asset-backed securitization, marking its 12th successful securitization.
About this update from Regional Management Corp.
[{"type":"text","content":"GREENVILLE, S.C., April 02, 2025--(BUSINESS WIRE)--Regional Management Corp. (NYSE: RM), a diversified consumer finance company, announced today that it has completed a $265 million asset-backed securitization, marking its 12th successful securitization.","length":254,"tagName":"p"},{"type":"text","content":"The Regional Management Issuance Trust 2025-1 (RMIT 2025-1) notes were issued at a weighted-average coupon of 5.30% (a 5 bp improvement over the prior RMIT 2024-2 issued notes), secured by $298 million of receivables, with a 2-year revolving period. The Class A notes of the securitization received a top rating of "AAA" from Standard & Poor’s and Morningstar DBRS. The company used a portion of the proceeds from the RMIT 2025-1 securitization to pay down variable rate debt facilities, as well as fully pay off notes from its RMIT 2020-1 securitization.","length":569,"tagName":"p"},{"type":"text","content":""This transaction is a testament to our ability to execute in challenging markets and further demonstrates the strength of Regional and our securitization platform," said Robert W. Beck, President and Chief Executive Officer of Regional Management Corp. "The securitization further enhances our balance sheet and continues to moderate our exposure to interest rate risk. As of the transaction’s closing, our fixed-rate debt as a percentage of total debt was approximately 91%, with a weighted-average coupon of 4.4% and a weighted-average revolving duration of 1.3 years. We remain well-positioned to deliver on our long-term strategy via disciplined portfolio growth, driving sustainable returns and creating additional value for our shareholders."","length":769,"tagName":"p"},{"type":"text","content":"The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only.","length":240,"tagName":"p"},{"type":"text","content":"About Regional Management Corp.","length":31,"tagName":"p"},{"type":"text","content":"Regional Management Corp. (NYSE: RM) is a diversified consumer finance company that provides attractive, easy-to-understand installment loan products primarily to customers with limited access to consumer credit from banks, thri...