Regional Management Corp. closed a private offering and sale of about $130.1 million of asset-backed notes.
The 2018-2 Securitization consisted of four classes of fixed-rate asset-backed notes issued by Regional Management Issuance Trust 2018-2, a special purpose entity indirectly owned by Regional Management.
The notes have an optional call date beginning Jan. 15, 2021, and final maturity date is set for Jan. 18, 2028. The notes are collateralized by a pool of soft secured and hard secured consumer loans having an aggregate principal balance of roughly $136 million as of Oct. 31.
Wells Fargo Securities LLC and Credit Suisse Securities (USA) LLC acted as joint book runners, co-lead managers and representatives of the several initial purchasers.