America’s Car-Mart, Inc. Completes $172 Million Term Securitization
America's Car-Mart (NASDAQ: CRMT) has successfully completed its eighth asset-backed securitization transaction, raising $172 million through the issuance of notes by ACM Auto Trust 2025-3. The transaction features an overall weighted average coupon of 5.46%, marking an 81 basis point improvement from their May 2025 securitization.
The notes were issued in two classes: $133.34 million in Class A Notes at a 5.01% coupon rate and $38.62 million in Class B Notes at 6.08%. The offering saw strong market interest, with Class A Notes being nearly 8 times oversubscribed and Class B Notes approximately 16 times oversubscribed. This marks the company's fourth consecutive improvement in weighted average coupon, with a total reduction of 308 basis points in weighted average spread since their 2024-1 transaction.
America's Car-Mart (NASDAQ: CRMT) ha portato a termine con successo la sua ottava cartolarizzazione garantita da attività, raccogliendo 172 milioni di dollari tramite l'emissione di titoli da parte di ACM Auto Trust 2025-3. L'operazione presenta un coupon medio ponderato complessivo del 5,46%, migliorando di 81 punti base rispetto alla cartolarizzazione di maggio 2025.
I titoli sono stati emessi in due classi: 133,34 milioni di dollari in Class A con un tasso coupon del 5,01% e 38,62 milioni di dollari in Class B al 6,08%. L'offerta ha ricevuto forte interesse dal mercato, con le Class A quasi 8 volte sovrasottoscritte e le Class B circa 16 volte sovrasottoscritte. Questo rappresenta il quarto miglioramento consecutivo del coupon medio ponderato della società, con una riduzione complessiva di 308 punti base nello spread medio ponderato rispetto alla transazione 2024-1.
America's Car-Mart (NASDAQ: CRMT) ha completado con éxito su octava titulización respaldada por activos, recaudando 172 millones de dólares mediante la emisión de bonos por parte de ACM Auto Trust 2025-3. La operación presenta un cupón medio ponderado global del 5,46%, mejorando en 81 puntos básicos respecto a su titulización de mayo de 2025.
Los valores se emitieron en dos clases: 133,34 millones de dólares en Clase A con un cupón del 5,01% y 38,62 millones de dólares en Clase B al 6,08%. La oferta despertó un fuerte interés en el mercado, con las Clase A casi 8 veces sobresuscritas y las Clase B aproximadamente 16 veces sobresuscritas. Esto supone la cuarta mejora consecutiva en el cupón medio ponderado de la compañía, con una reducción total de 308 puntos básicos en el diferencial medio ponderado desde la transacción 2024-1.
America's Car-Mart (NASDAQ: CRMT)는 여덟 번째 자산담보부증권(ABS) 거래를 성공적으로 완료하여 ACM Auto Trust 2025-3을 통해 1억7,200만 달러를 조달했습니다. 이번 거래의 전체 가중평균 쿠폰은 5.46%로, 2025년 5월 거래 대비 81베이시스포인트 개선된 수치입니다.
증권은 두 등급으로 발행되었습니다: 쿠폰 5.01%의 Class A 1억3,334만 달러와 6.08%의 Class B 3,862만 달러입니다. 시장의 관심이 높아 Class A는 거의 8배, Class B는 약 16배 초과 청약을 기록했습니다. 이는 회사의 가중평균 쿠폰이 연속으로 네 번째 개선된 것이며, 2024-1 거래 이후 가중평균 스프레드가 총 308베이시스포인트 감소한 결과입니다.
America's Car-Mart (NASDAQ: CRMT) a finalisé avec succès sa huitième opération de titrisation adossée à des actifs, levant 172 millions de dollars via l'émission de titres par ACM Auto Trust 2025-3. La transaction présente un coupon moyen pondéré global de 5,46%, soit une amélioration de 81 points de base par rapport à la titrisation de mai 2025.
Les titres ont été émis en deux tranches : 133,34 millions de dollars en tranche A au coupon de 5,01% et 38,62 millions de dollars en tranche B à 6,08%. L'offre a suscité un fort intérêt du marché, les tranches A étant souscrites près de 8 fois et les tranches B environ 16 fois. Il s'agit de la quatrième amélioration consécutive du coupon moyen pondéré de la société, avec une réduction totale de 308 points de base du spread moyen pondéré depuis la transaction 2024-1.
America's Car-Mart (NASDAQ: CRMT) hat seine achte asset-backed-Verbriefung erfolgreich abgeschlossen und dabei 172 Millionen US-Dollar durch die Emission von Schuldverschreibungen der ACM Auto Trust 2025-3 aufgenommen. Die Transaktion weist einen gewichteten durchschnittlichen Coupon von 5,46% auf, was eine Verbesserung um 81 Basispunkte gegenüber der Verbriefung im Mai 2025 bedeutet.
Die Papiere wurden in zwei Klassen ausgegeben: 133,34 Millionen US-Dollar in Class A mit einem Coupon von 5,01% und 38,62 Millionen US-Dollar in Class B mit 6,08%. Das Angebot stieß auf starke Nachfrage: Class A war nahezu achtfach überzeichnet und Class B etwa 16-fach. Dies ist die vierte aufeinanderfolgende Verbesserung des gewichteten Durchschnittscoupons des Unternehmens, mit einer kumulativen Reduktion des gewichteten Durchschnittsspreads um 308 Basispunkte seit der Transaktion 2024-1.
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Insights
America's Car-Mart successfully completed its eighth securitization with significantly improved financing terms, demonstrating strong market confidence and enhancing capital efficiency.
America's Car-Mart has completed a
The securitization structure included
The company has achieved four consecutive improvements in their weighted average coupon and reduced their weighted average spread by an impressive 308 basis points since their 2024-1 transaction. This trend of declining financing costs represents significant savings that should flow directly to the bottom line, enhancing profitability without requiring operational changes.
These improving terms indicate the credit markets view CRMT's loan portfolio quality and underwriting standards favorably. For a company in the subprime auto lending space, securing increasingly favorable financing terms is a crucial competitive advantage, allowing them to potentially offer more competitive rates to customers while maintaining margins. The reduced cost of capital strengthens their business model and provides greater financial flexibility for potential growth initiatives.
Weighted average coupon improved 81 basis points from prior May 2025 securitization
ROGERS, Ark., Aug. 29, 2025 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) (“we,” “Car-Mart” or the “Company”), announced today that it has completed a term securitization transaction involving the issuance of
ACM Auto Trust 2025-3 issued
“I am pleased with the favorable outcome of our eighth ABS transaction, reflecting the continued strength of this developing platform. There is more that we can and will do to improve the platform as we move forward,” said Douglas Campbell, Chief Executive Officer of America’s Car-Mart.
“Market interest for our securitizations remains high, with the Class A Notes almost 8 times oversubscribed, and the Class B Notes nearly 16 times oversubscribed. Strong demand combined with favorable operating performance within our portfolio have significantly improved the pricing of our Notes. In fact, this is the fourth consecutive improvement in the overall weighted average coupon, and we have reduced our weighted average spread by 308 basis points since our 2024-1 transaction, as we continue to lower our financing costs and strengthen our capital efficiency,” said Jonathan Collins, Chief Financial Officer.
ACM Auto Trust 2025-3 is an indirect subsidiary of the Company. The notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release does not and will not constitute an offer to sell or the solicitation of an offer to buy the notes. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
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.
Contact:
SM Berger & Company
Andrew Berger, Managing Director
andrew@smberger.com
(216) 464-6400
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