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Debt
9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Debt

Note 4. Debt

On September 18, 2015, the Company amended and restated its senior revolving credit facility, increased availability under the facility from $500,000 to $538,000, and extended the maturity of the facility from May 2016 to September 2018. The facility has an accordion provision that allows for the expansion of the facility to $600,000. Borrowings under the facility bear interest, payable monthly, at rates equal to LIBOR of a maturity the Company elects between one and six months, with a LIBOR floor of 1.00%, plus a 3.00% margin. Alternatively, the Company may pay interest at a base rate plus 2.00% margin. The Company also pays an unused line fee, payable monthly, of 50 basis points per annum, which declines to 37.5 basis points at certain usage levels. Advances on the facility are capped at 85% of eligible secured finance receivables plus 70% of eligible unsecured finance receivables. These rates are subject to adjustment at certain credit quality levels (83% secured and 68% unsecured as of September 30, 2015). As of September 30, 2015, the Company had $81,787 of eligible capacity under the facility. The facility also contains restrictive covenants. At September 30, 2015, the Company was in compliance with all debt covenants.