Item 1.01 Entry into a Material Definitive Agreement.
On
Under the 2022 Amendment, the total lender commitment, which is provided by a
group of eleven commercial banks, was increased from
The financial covenant limiting the domestic leverage ratio was eliminated. The
permitted consolidated leverage ratio (defined as consolidated EBITDA, adjusted
for certain customary items as more fully set forth in the Credit Facility
("Adjusted EBITDA"), divided by outstanding consolidated debt), which was
previously scheduled to decrease to 3.0 times effective
The Credit Facility now bears interest at the Borrower's option of either (i) the prevailing secured overnight financing rate ("SOFR") (with interest periods of 1, 3 or 6 months at the Borrower's option) plus a fixed spread of 2.5% and a fixed SOFR adjustment of 0.1% or (ii) the prevailing prime or base rate plus a fixed spread of 1.5%.
The preceding description of the 2022 Amendment does not purport to be complete and is qualified in its entirety by the terms and conditions of the 2022 Amendment which is filed as Exhibit 10.1 hereto, and incorporated into this report 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 above and the full text of the 2022 Amendment, which is attached hereto as Exhibit 10.1, are incorporated by reference into this report by reference.
Item 7.01 Regulation FD Disclosure.
On
The information provided in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by the specific reference in such filing.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
10.1 Sixth Amendment to Amended and Restated Credit Agreement, datedAugust 30, 2022 , betweenFirstCash Holdings, Inc. ,FirstCash, Inc. , certain subsidiaries of the borrower from time to time party thereto, the lenders party thereto, andWells Fargo Bank, National Association . 99.1 Press release, datedAugust 31, 2022 , announcing the 2022 Amendment. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document contained in Exhibit 101) 3
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