Regional Management increases warehouse facility to $300 million, adds lender

Chicago, April 29 – Regional Management Corp. expanded its warehouse facility capacity to $300 million, an increase of $100 million, by closing an additional new facility with JPMorgan Chase Bank, NA as administrative agent, according to a press release and an 8-K filing with the Securities and Exchange Commission.

The new $100 million facility funds multiple forms of collateral, including small loans, large loans, convenience check loans and digitally originated loans.

The facility lists Regional Management Receivables V, LLC as borrower.

Based on utilization, the commitment varies from 45 basis points to 75 bps.

The margin on the loan is listed as 220 bps.

The revolving period ends 18 months after the closing date, April 28.

The amortization period is the 12 months following the revolving period.

The maturity date is at the termination of the amortization period.

Wells Fargo Bank, NA is the account bank and backup servicer.

Regional Management, as previously reported, closed on two other facilities earlier in the month with Wells Fargo and Credit Suisse.

All told, the company has increased borrowings $175 million from the three facilities.

Regional Management Corp. is a Greenville, S.C.-based diversified specialty consumer finance company providing a broad array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders.

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