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World Acceptance (NASDAQ: WRLD) secures $15M accordion boost to credit facility

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

World Acceptance Corporation expanded its revolving credit facility by entering into an Accordion Increase under its existing Revolving Credit Agreement. Investar Bank, National Association provided a new Commitment of $15.0 million, raising total aggregate Commitments under the facility from $640.0 million to $655.0 million.

The additional obligations are secured and guaranteed on a pari passu basis with the company’s existing obligations and carry the same interest rate and maturity terms as current loans. World Acceptance agreed to pay the Increasing Lender an upfront fee equal to 0.15% of the new Commitment, and issued a Revolving Credit Note in the principal amount of $15.0 million to evidence loans under the expanded facility.

Positive

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Insights

World Acceptance modestly expands revolving credit capacity with unchanged terms.

World Acceptance Corporation increased lender Commitments under its Revolving Credit Agreement from $640.0 million to $655.0 million via a $15.0 million Accordion Increase from Investar Bank. The new borrowing capacity shares the same collateral, interest rate, and maturity as existing loans.

This step adds incremental liquidity without altering the facility’s core economics, and the obligations rank pari passu with existing debt. The company paid an upfront fee of 0.15% of the new Commitment, reflecting a relatively small cost for the added flexibility disclosed in the agreement dated June 29, 2026.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Accordion Increase amount $15.0 million New Commitment from Investar Bank under Revolving Credit Agreement
Total commitments after increase $655.0 million Aggregate Commitments under Revolving Credit Agreement after Accordion Increase
Total commitments before increase $640.0 million Aggregate Commitments prior to Accordion Increase
Upfront fee rate 0.15% Fee on the Increasing Lender’s $15.0 million Commitment
Revolving Credit Note principal $15.0 million Principal amount of new Revolving Credit Note to Investar Bank
Accordion Increase financial
"entered into an Accordion Increase (the “Accordion Increase”) under its Revolving Credit Agreement"
Revolving Credit Agreement financial
"under its Revolving Credit Agreement, dated as of July 22, 2025"
A revolving credit agreement is a flexible loan arrangement where a borrower can borrow, repay, and borrow again up to a set limit, similar to a credit card. It matters because it gives businesses or individuals quick access to funds whenever needed, helping manage cash flow and cover expenses without applying for a new loan each time.
pari passu financial
"secured and guaranteed on a pari passu basis with the other Obligations"
An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.
Commitments financial
"the aggregate Commitments of all lenders under the Revolving Credit Agreement increased"
Revolving Credit Note financial
"the Company issued a Revolving Credit Note in favor of the Increasing Lender"
A revolving credit note is a written promise that documents a company’s right to borrow, repay and borrow again up to a set credit limit under a revolving loan arrangement — much like a business version of a credit card. It matters to investors because it shows how flexible a company’s short-term funding is and how easily it can cover cash needs or handle unexpected costs, which affects liquidity and financial stability.
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Understanding 8-K Material Events →
June 29, 2026False000010838500001083852022-05-032022-05-03

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

__________________________________
FORM 8-K
__________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 29, 2026

Commission File Number:  000-19599

WORLD ACCEPTANCE CORPORATION
(Exact name of registrant as specified in its charter.)
South Carolina
 57-0425114
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number)
104 S Main Street
Greenville,South Carolina29601
(Address of principal executive offices)
(Zip Code)
(864)298-9800
(registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, no par valueWRLDThe NASDAQ Stock Market LLC
(NASDAQ Global Select Market)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐


Item 1.01. Entry into a Material Definitive Agreement

Accordion Increase to Revolving Credit Facility

On June 29, 2026, World Acceptance Corporation (the “Company”) entered into an Accordion Increase (the “Accordion Increase”) under its Revolving Credit Agreement, dated as of July 22, 2025 (as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”), by and among the Company, the lenders from time to time party thereto, and Bank of Montreal, as Administrative Agent and Collateral Agent.

Pursuant to Section 2.14 (Accordion Facility) of the Revolving Credit Agreement, the Company requested, and Investar Bank, National Association (the “Increasing Lender”) agreed to provide, an Accordion Increase in the amount of $15.0 million, to be effected through a new Commitment of $15.0 million from the Increasing Lender. After giving effect to the Accordion Increase, the Commitment of the Increasing Lender is $15.0 million, and the aggregate Commitments of all lenders under the Revolving Credit Agreement increased from $640.0 million to $655.0 million.

The Accordion Increase constitutes additional Obligations that are secured and guaranteed on a pari passu basis with the other Obligations under the Revolving Credit Agreement and is subject to the same terms (including interest rate and maturity date) as the existing Loans under the Revolving Credit Agreement. In connection with the Accordion Increase, the Company agreed to pay the Increasing Lender an upfront fee equal to 0.15% of the Increasing Lender’s Commitment, payable on the effective date of the Accordion Increase. Effectiveness of the Accordion Increase was conditioned upon, among other things, payment of such upfront fee and satisfaction of the conditions set forth in Section 2.14 of the Revolving Credit Agreement. Each of the capitalized terms used and not defined herein has the meaning set forth in the Revolving Credit Agreement.

In connection with the Accordion Increase, on June 29, 2026, the Company issued a Revolving Credit Note in favor of the Increasing Lender in the principal amount of $15.0 million (the “Note”), evidencing Loans made by the Increasing Lender to the Company under its Commitment pursuant to the Revolving Credit Agreement.

The foregoing descriptions of the Accordion Increase and the Note are only summaries, do not purport to be complete, and are qualified in their entirety by reference to the full text of the Accordion Increase and the Note, which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01.Financial Statements and Exhibits.
Exhibit
Number		Exhibit Description
10.1
Accordion Increase, dated June 29, 2026, among World Acceptance Corporation, Investar Bank, National Association, and Bank of Montreal, as Administrative Agent and Collateral Agent
10.2
Revolving Credit Note, dated June 29, 2026, issued by World Acceptance Corporation in favor of Investar Bank, National Association
10.4Cover Page Interactive Data File (embedded within the Inline XBRL document).


1

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
WORLD ACCEPTANCE CORPORATION
By: /s/ John L. Calmes, Jr.
John L. Calmes, Jr.
Executive Vice President and Chief Financial and Strategy Officer
Date: June 29, 2026
2

Source: View Original Filing on SEC EDGAR

FAQ

What change did World Acceptance Corporation (WRLD) make to its credit facility?

World Acceptance Corporation increased its revolving credit facility commitments from $640.0 million to $655.0 million. The $15.0 million Accordion Increase was provided by Investar Bank under the existing Revolving Credit Agreement.

How large is the Accordion Increase World Acceptance (WRLD) obtained?

The Accordion Increase adds a new lender Commitment of $15.0 million. This raises total aggregate Commitments under the Revolving Credit Agreement to $655.0 million, expanding the company’s available revolving borrowing capacity on existing terms.

Do the new loans under WRLD’s Accordion Increase have different terms?

The additional obligations created by the Accordion Increase are subject to the same interest rate and maturity date as existing loans. They are also secured and guaranteed on a pari passu basis with other obligations under the Revolving Credit Agreement.

What fee did World Acceptance agree to pay for the Accordion Increase?

World Acceptance agreed to pay the Increasing Lender an upfront fee equal to 0.15% of the lender’s $15.0 million Commitment. This fee is payable on the effective date of the Accordion Increase as a condition to effectiveness.

Which lender provided the additional commitment in WRLD’s Accordion Increase?

The additional $15.0 million Commitment was provided by Investar Bank, National Association. After the Accordion Increase, Investar Bank’s Commitment under the Revolving Credit Agreement is $15.0 million, documented by a new Revolving Credit Note.

When was the Accordion Increase for World Acceptance’s credit facility executed?

The company entered into the Accordion Increase on June 29, 2026. On the same date, World Acceptance also issued a $15.0 million Revolving Credit Note in favor of Investar Bank to evidence loans under the expanded Commitment.

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

Other Documents