Company: ATLCL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-033947
Chunk: 194

Company: Atlanticus Holdings Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 194
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 September 30, 2025). This facility is secured by the loans, interest and fees receivable and related restricted cash and accrues interest at an annual rate equal to the Term SOFR plus 2.85%. The facility matures on  April 7, 2028. The note is guaranteed by Atlanticus.
    
   In  January 2021, we (through a wholly owned subsidiary) entered a revolving credit facility with a (as subsequently amended) $75.0 million borrowing limit (of which $57.7 million was drawn as of  September 30, 2025) that is available to the extent of outstanding eligible principal receivables. This facility is secured by the loans, interest and fees receivable and related restricted cash and accrues interest at an annual rate equal to the greater of the Prime Rate or 4%. The facility matures on  March 31, 2028 and is subject to certain affirmative covenants, including a liquidity test and an eligibility test, the failure of which could result in required early repayment of all or a portion of the outstanding balance. The note is guaranteed by Atlanticus, which is required to maintain certain minimum liquidity levels.
    
   In  June 2021, we (through a wholly owned subsidiary) sold $300.0 million of Asset backed securities ("ABS") secured by certain credit card receivables (expiring  May 15, 2026 through  December 15, 2026). The terms of the ABS allow for a four-year revolving structure with a subsequent 11-month to 18-month amortization period. The weighted average interest rate on the securities is fixed at 4.24%. The ABS is currently in a scheduled amortization period.
    
   In  November 2021, we (through a wholly owned subsidiary) sold $300.0 million of ABS secured by certain credit card receivables (expiring  May 15, 2026). The terms of the ABS allowed for a three-year revolving structure with a subsequent 18-month amortization period. The weighted average interest rate on the securities was fixed at 3.53%. The facility was repaid in  May 2025.
    
   In  May 2022, we (through a wholly owned subsidiary) entered a (as subsequently amended) $325.0 million ABS agreement (of which $325.0 million was drawn as of  September 30, 2025) secured by certain