January 2025
Deutsche Bank supports America’s Car-Mart’s second securitisation in 2024
In October 2024, Arkansas-based America’s Car-Mart completed a US$300m term securitisation transaction. Deutsche Bank Trust and Agency Services (TAS) has been selected as indenture trustee, registrar and paying agent.1
This deal represents America’s Car-Mart’s second securitisation in 2024 and the fifth for the company overall. The deal involved the issuance of US$300m in principal amount of asset-backed notes with an overall weighted average coupon of 7.44%. The advance rate for this transaction was 59.15%.
ACM Auto Trust 2024-2 issued US$228.2m of Class A Notes and US$71.8m of Class B Notes. The Class A Notes have a coupon rate of 6.06% and the Class B Notes have a coupon rate of 9.21%. ACM Auto Trust 2024-2 is an indirect subsidiary of America’s Car-Mart.
Vickie Judy, Chief Financial Officer at America’s Car-Mart, noted, “We are pleased with the successful completion of our second term securitisation of 2024, with benchmark rate and spread improvements resulting in a 198-basis point improvement in the weighted average coupon compared to our January 2024 transaction.”
Brian Studdert, Head of Trust & Agency Services, Americas, Deutsche Bank noted, “We are delighted that America’s Car-Mart has chosen Deutsche Bank to provide a full suite of trust and agency services to support this transaction.”
About America’s Car-Mart
America’s Car-Mart operates automotive dealerships in 12 states and is one of the largest publicly held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market. The company operates its dealerships primarily in smaller cities throughout the South-Central United States selling used vehicles and providing financing for its customers. For more information about America’s Car-Mart, please visit www.car-mart.com.