Company: ATLCL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015559
Chunk: 76

Company: Atlanticus Holdings Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 76
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 2026) that is secured by certain receivables and restricted cash 
      
     $
     66.8

      Revolving credit facility (expiring October 30, 2026) that is secured by certain receivables and restricted cash 

     49.8

      Revolving credit facility (expiring December 1, 2026) that is secured by certain assets 

     31.6

      Revolving credit facility (expiring July 15, 2027) that is secured by certain receivables and restricted cash 

     49.7

      Revolving credit facility (expiring August 30, 2027) that is secured by certain receivables and restricted cash 

     12.5

      Revolving credit facility (expiring April 7, 2028) that is secured by certain receivables and restricted cash 

     12.5

      Total long term refinancing needs (in excess of 12 months) 
      
     $
     222.9

Based on the state of the debt capital markets, the performance of our assets that serve as security for the above facilities, and our relationships with lenders, we view imminent refunding or refinancing risks with respect to the above facilities as moderate in the current environment. We believe that the quality of our new receivables should allow us to raise more capital through increasing the size of our facilities with our existing lenders and attracting new lending relationships, albeit at increased costs due to the aforementioned recent interest rate increases. Further details concerning the above debt facilities and other debt facilities we use to fund the acquisition of receivables are provided in Note 9, "Notes Payable," to our condensed consolidated financial statements included herein.

In November 2021, we issued $150.0 million aggregate principal amount of 6.125% Senior Notes due 2026 (the "2026 Senior Notes"). The 2026 Senior Notes are general unsecured obligations of the Company and rank equally in right of payment with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness, and will rank senior in right of payment to the Company’s future subordinated indebtedness, if any. The 2026 Senior Notes are effectively subordinated to all of the Company’s existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness, and the 2026 Senior Notes are structurally subordinated to all existing and future indebtedness and