America’s Car-Mart Closes $300 Million Term Loan to Enhance Capital Structure
America’s Car-Mart (NASDAQ: CRMT) closed a new five-year, $300 million funded term loan facility provided by funds managed by Silver Point Capital, L.P. The loan matures on October 30, 2030 and carries interest at SOFR + 7.50% per annum. In connection with the transaction the company fully repaid its asset-backed line of credit, simplified its balance sheet, and issued Silver Point warrants to purchase up to 10% of fully diluted common stock (warrant expiry October 30, 2031) with customary registration rights. The loan is secured and subject to customary covenants. Jefferies served as financial advisor and Mayer Brown as legal counsel. A Form 8-K will be filed by November 5, 2025.
America’s Car-Mart (NASDAQ: CRMT) ha chiuso una nuova linea di finanziamento a termine rimborsabile in cinque anni e 300 milioni di dollari fornita da fondi gestiti da Silver Point Capital, L.P. Il prestito scade il 30 ottobre 2030 e prevede un tasso di interesse pari a SOFR + 7,50% annuo. In relazione all'operazione, la società ha completamente rimborsato la linea di credito garantita da attività, semplificato il proprio stato patrimoniale e emesso warrant Silver Point per l'acquisto di fino al 10% delle azioni ordinarie integralmente diluite (scadenza dei warrant 30 ottobre 2031) con diritti di registrazione usuali. Il prestito è garantito e soggetto a covenants standard. Jefferies ha agito come consulente finanziario e Mayer Brown come consulente legale. Una Form 8-K sarà depositata entro 5 novembre 2025.
America’s Car-Mart (NASDAQ: CRMT) cerró una nueva facilidad de préstamo a plazo de cinco años y 300 millones de dólares financiada por fondos gestionados por Silver Point Capital, L.P. El préstamo vence el 30 de octubre de 2030 y tiene un interés de SOFR + 7,50% anual. En relación con la transacción, la empresa pagó por completo su línea de crédito respaldada por activos, simplificó su balance y emitió warrants de Silver Point para comprar hasta el 10% de las acciones ordinarias totalmente diluidas (vencimiento de los warrants 30 de octubre de 2031) con derechos de registro habituales. El préstamo está asegurado y sujeto a pactos habituales. Jefferies actuó como asesor financiero y Mayer Brown como asesor legal. Se presentará un Form 8-K antes del 5 de noviembre de 2025.
America’s Car-Mart (NASDAQ: CRMT)은 Silver Point Capital, L.P.이 관리하는 자금이 제공하는 5년 만기의 3억 달러 펀딩 텀 론 시설을 체결했다. 대출은 2030년 10월 30일에 만기되며 이자율은 SOFR + 연 7.50%이다. 거래와 관련해 회사는 자산담보 신용한도를 전액 상환하고, 대차대조표를 간소화했으며, 완전 희석된 보통주의 최대 10%를 매입할 수 있는 Silver Point의 워런트를 발행했으며(워런트 만료 2031년 10월 30일) 일반적으로 등록 권리를 갖는다. 대출은 담보가 설정되어 있으며 일반적인 covenants의 적용을 받는다. Jefferies는 재무 자문으로, Mayer Brown은 법률 자문으로 활동했다. 2025년 11월 5일까지 Form 8-K를 제출할 예정이다.
America’s Car-Mart (NYSE: CRMT) a conclu une nouvelle facilité de prêt à terme, sur cinq ans, de 300 millions de dollars, fournie par des fonds gérés par Silver Point Capital, L.P. Le prêt arrive à échéance le 30 octobre 2030 et porte un taux d’intérêt de SOFR + 7,50 % par an. Dans le cadre de la transaction, la société a remboursé intégralement sa ligne de crédit soutenue par des actifs, simplifié son bilan et émis des warrants Silver Point permettant d’acheter jusqu’à 10 % des actions ordinaires entièrement diluées (échéance des warrants 30 octobre 2031) avec les droits d’enregistrement habituels. Le prêt est garanti et soumis à des covenants usuels. Jefferies a agi en tant que conseiller financier et Mayer Brown en tant que conseiller juridique. Un Form 8-K sera déposé d’ici le 5 novembre 2025.
America’s Car-Mart (NASDAQ: CRMT) schloss eine neue, fünfjährige, 300 Millionen USD umfassende, finanzierte Term Loan Facility ab, bereitgestellt von Fonds, die von Silver Point Capital, L.P. verwaltet werden. Das Darlehen läuft am 30. Oktober 2030 und trägt Zinsen in Höhe von SOFR + 7,50% pro Jahr. Im Zusammenhang mit der Transaktion hat das Unternehmen seine asset-backed Kreditlinie vollständig zurückgezahlt, seine Bilanz vereinfacht und Silver Point Warrants zum Kauf von bis zu 10% der vollständig verwässerten Stammaktien ausgegeben (Laufzeit der Warrants 30. Oktober 2031) mit üblichen Registrierungsrechten. Das Darlehen ist gesichert und unterliegt üblichen Covenants. Jefferies fungierte als Finanzberater und Mayer Brown als Rechtsbeistand. Eine Form 8-K wird bis zum 5. November 2025 eingereicht.
America’s Car-Mart (NASDAQ: CRMT) أغلقت تسهيلاً جديداً للقرض لمدة خمس سنوات بقيمة مئة مليون دولار؟ تم التوريد بواسطة صناديق تُدار من Silver Point Capital, L.P. القرض حتى 30 أكتوبر 2030 ويبلغ سعر الفائدة SOFR + 7.50% سنوياً. فيما يتعلق بالصفقة، سددت الشركة خط الائتمان المدعوم بالأصول بالكامل، وبسّطت ميزانيتها، وصدرت وُرَنت Silver Point لشراء حتى 10% من الأسهم العادية المخفّفة بالكامل (انتهاء صلاحية الوَرَنتات 30 أكتوبر 2031) مع حقوق تسجيل اعتيادية. القرض مضمون وخاضع لأوامر covenants المعتادة. خدم Jefferies كمستشار مالي وMayer Brown كمستشار قانوني. سيتم تقديم نموذج 8-K في 5 نوفمبر 2025.
- Raised $300 million five-year term loan
- Repaid ABL, simplifying the balance sheet
- Longer-term maturity: loan due Oct 30, 2030
- Loan interest at SOFR + 7.50% increases financing cost
- Issued warrants equal to 10% of fully diluted shares (potential dilution)
- Loan is secured and contains customary covenants that may restrict operations
Insights
Five-year
Replacing the asset-backed line with a secured five-year facility maturing on
Key trade-offs include the pricing at SOFR plus
Watch near-term covenant thresholds and the forthcoming Form 8-K for specific covenant tests, amortization terms, and use-of-proceeds language; monitor
Transaction enhances funding stability but conveys investor dilution risk via warrants and a material spread that affects net interest cost.
The loan secures five-year funding from funds managed by Silver Point Capital and includes customary registration rights for up to
The effective cost includes both the cash interest (SOFR plus
ROGERS, Ark., Oct. 30, 2025 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) (“Car-Mart” or the “Company”) today announced the closing of a new five-year,
In connection with this transaction, the Company fully repaid the outstanding balance under its asset-backed line of credit (ABL), simplifying its balance sheet and creating a more flexible and scalable capital structure to support long-term growth opportunities and general corporate purposes.
The new term loan matures on October 30, 2030, and bears interest at SOFR plus
“We are excited to complete this transaction at a time of uncertainty in the market, which we believe demonstrates the fundamental strength of our business and our ability to execute on our long-term capital strategy. By replacing our ABL facility with a new term loan, we have strengthened our financial profile and added new capital that will provide flexibility and agility for our originations and operations. This action aligns with our multi-year efforts to improve Car-Mart’s platform by reinforcing our core strengths, adapting to evolving market dynamics, and enhancing our balance sheet,” said Douglas Campbell, Chief Executive Officer of America’s Car-Mart.
“With a more flexible, longer-term component of capital in place, we are well positioned to further optimize our capital structure. This includes broadening our funding sources and continuing to enhance our ABS program, where we have seen continued improvements in our weighted average spread across recent transactions,” said Jonathan Collins, Chief Financial Officer.
“We are pleased to partner with America’s Car-Mart to deliver a customized financing solution that strengthens the company’s capital structure and supports its long-term objectives,” said Taylor Montague, Managing Director at Silver Point Capital. “We truly appreciate the extensive engagement by the management team over the last several months that enabled us to complete the thorough due diligence that underpins our conviction in the durability of the enterprise and the company’s market position.”
Jefferies Finance LLC served as financial advisor and Mayer Brown served as legal counsel to Car-Mart on this transaction. Additional details regarding the term loan facility will be included in a Form 8-K to be filed no later than November 5, 2025, with the Securities and Exchange Commission.
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.
About Silver Point Capital, L.P.
Silver Point Capital, L.P. (“Silver Point”) is a leading global credit investing firm founded in 2002. With a dedicated team of more than 350 employees, Silver Point oversees approximately
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. Words such as “expects,” “believes,” “will,” “would,” “plans,” “intends,” and other similar words and expressions are intended to signify forward-looking statements. These forward-looking statements include, without limitation, statements regarding the Company’s capital structure, the potential benefits the term loan facility will have on its business, opportunities to support growth, and future financing transactions. Actual events and the timing of such events could materially differ from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including the impacts the new term loan facility will have on the Company’s financial and operating performance, future financing transactions, and additional risks described in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2025 and other documents on file with the Securities and Exchange Commission, each of which can be found on the SEC’s website, www.sec.gov, or the investor relations section of the Company’s website. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
Contact:
SM Berger & Company
Andrew Berger, Managing Director
andrew@smberger.com
(216) 464-6400
FAQ
What are the key terms of America’s Car-Mart's new term loan (CRMT)?
How does the CRMT term loan affect America’s Car-Mart's existing ABL?
What shareholder dilution could result from the Silver Point warrants in the CRMT deal?
When do the Silver Point warrants issued to CRMT expire and are there registration rights?
Who advised America’s Car-Mart on the CRMT financing and when will SEC details be filed?
