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Pioneer Financial Services Inc. on June 21 entered into the 36th amendment to the secured senior lending agreement with the lenders and UMB Bank NA as the agent.
The amendment allows the declaration and payment of a $20 million one-time unrestricted dividend from Pioneer Financial Services to its parent company MidCountry Financial Corp. on or before June 30, according to a Form 8-K filed June 27.
It amends the revolving credit line interest rate to be 4% or prime, whichever is greater, for all new borrowings after June 21 and amends the amortizing term notes interest rate to be 5.25% or 270 basis points over the 90-day moving average of like-term treasury notes, whichever is greater, for all new borrowings after June 21.
The amendment also permits the reimbursement of actual...