America's Car-Mart Closes $300 Million Loan
Rogers-based America's Car-Mart Inc. has closed on a new five-year, $300 million loan managed by Silver Point Capital L.P.
The loan announcement was made after the markets closed, with the company's stock having fallen to a 52-week low on Thursday. The share price remained flat in after-hours trading.
- Loan term: 5 years, maturing on October 30, 2030
- Annual interest rate: 7.5%
- The company has repaid its asset-backed line of credit (ABL) to simplify its balance sheet
The new loan will create a more flexible and scalable asset structure, supporting long-term growth and general corporate purposes.
In connection with the loan, Silver Point Capital will be allowed to purchase up to 10% of the company's shares at the existing market price.
Author's summary: Car-Mart secures $300 million loan.
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