World AcceptanceCorp. has amended its revolving credit agreement to reduce the commitmentsunder the agreement to $460.0 million from $500.0 million.
The amendment also provides for a future reduction of the commitmentsto $370.0 million on March 31, 2017; extends the maturity date to June 15, 2018,from June 15, 2017; and adds an accordion feature under which the company may requestan increase in the aggregate amount of the commitments, provided the aggregate amountwill not exceed $500 million.
The amendment also increases the minimum consolidated net worthrequirement to $330.0 million, from $265.0 million through June 29.
World Acceptance entered the amendment with certain lenders andWells Fargo Bank NA as successor administrative agent and successor collateral agent.Under the amendment, Capital One NA ceased to be a lender.