AmeriCredit Trust 2024-1 Enters Definitive Agreement
Sentiment: neutral
Topics: asset-backed-securities, auto-loans, definitive-agreement
TL;DR
AmeriCredit Trust 2024-1 inked a deal, filing 8-K with exhibits.
AI Summary
On May 29, 2024, AmeriCredit Automobile Receivables Trust 2024-1 entered into a material definitive agreement related to its asset-backed securities. The filing also includes financial statements and exhibits, indicating a structured financial transaction involving auto loans.
Why It Matters
This filing signifies a structured financial transaction for AmeriCredit, likely involving the securitization of auto loans, which impacts its funding and operations.
Risk Assessment
Risk Level: low — The filing is a standard 8-K for a structured finance entity, indicating routine business operations rather than significant new risks.
Key Players & Entities
- AmeriCredit Automobile Receivables Trust 2024-1 (company) — Issuer of asset-backed securities
- AFS SENSUB CORP. (company) — Filer of the 8-K, related to AmeriCredit
- 801 CHERRY ST STE 3500 (location) — Business address for AmeriCredit Financial Services Inc.
- FORT WORTH, TX (location) — City and state for AmeriCredit Financial Services Inc.
FAQ
What type of material definitive agreement was entered into by AmeriCredit Automobile Receivables Trust 2024-1?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on May 29, 2024.
What is the primary asset class for AmeriCredit Automobile Receivables Trust 2024-1?
The primary asset class is Auto loans.
Who is the filer of this 8-K report?
The filer is AFS SENSUB CORP., with AmeriCredit Automobile Receivables Trust 2024-1 also listed as a filer.
What is the business address associated with AmeriCredit Financial Services Inc. in this filing?
The business address is C/O AMERICREDIT FINANCIAL SERVICES INC, 801 CHERRY ST STE 3500, FORT WORTH, TX 76102.
What items are being reported in this 8-K filing?
The filing reports an Entry into a Material Definitive Agreement, Other Events, and Financial Statements and Exhibits.
Filing Stats: 1,416 words · 6 min read · ~5 pages · Grade level 10.8 · Accepted 2024-05-31 13:11:37
Key Financial Figures
- $290,000,000 — 2024-1 (the Issuing Entity ), to issue $290,000,000 Class A-1 Asset Backed Notes (the Class
- $270,960,000 — et Backed Notes (the Class A-1 Notes ), $270,960,000 Class A-2-A Asset Backed Notes (the Cla
- $225,000,000 — Backed Notes (the Class A-2-A Notes ), $225,000,000 Class A-2-B Asset Backed Notes (the Cla
- $368,860,000 — Backed Notes (the Class A-2-B Notes ), $368,860,000 Class A-3 Asset Backed Notes (the Class
- $108,920,000 — et Backed Notes (the Class A-3 Notes ), $108,920,000 Class B Asset Backed Notes (the Class B
- $136,560,000 — -3 Notes, the Publicly Offered Notes ), $136,560,000 Class C Asset Backed Notes (the Class C
- $131,540,000 — sset Backed Notes (the Class C Notes ), $131,540,000 Class D Asset Backed Notes (the Class D
- $47,760,000 — t Backed Notes (the Class D Notes ) and $47,760,000 Class E Asset Backed Notes (the Class E
Filing Documents
- d774289d8k.htm (8-K) — 31KB
- d774289dex41.htm (EX-4.1) — 705KB
- d774289dex42.htm (EX-4.2) — 300KB
- d774289dex43.htm (EX-4.3) — 27543KB
- d774289dex101.htm (EX-10.1) — 26777KB
- d774289dex106.htm (EX-10.6) — 217KB
- 0001193125-24-151408.txt ( ) — 55575KB
Financial Statements, Pro Forma Financial Information and Exhibits
Financial Statements, Pro Forma Financial Information and Exhibits . (a)Not applicable. (b)Not applicable. (c)Not applicable. (d)Exhibits: 1.1Underwriting Agreement, dated as of May 21, 2024, among AmeriCredit, as Sponsor, AFS SenSub, as Seller, and the Representatives (see Exhibit 1.1 to Form 8-K filed on May 23, 2024, in connection with Registration Statement Nos. 333-261851 and 333-261851-04, which is incorporated by reference herein). 4.1Indenture, dated as of May 29, 2024, between the Issuing Entity and Computershare Trust Company, as Trustee and Trust Collateral Agent. 4.2Amended and Restated Trust Agreement, dated as of May 29, 2024, between AFS SenSub and WTC, as Owner Trustee. 4.3Sale and Servicing Agreement, dated as of May 29, 2024, among the Issuing Entity, AmeriCredit, as Servicer, AFS SenSub and Computershare Trust Company, as Trust Collateral Agent. 5.1Opinion of Katten Muchin Rosenman LLP with respect to validity (see Exhibit 5.1 to Form 8-K filed on May 29, 2024, in connection with Registration Statement Nos. 333-261851 and 333-261851-04, which is incorporated by reference herein). 8.1Opinion of Katten Muchin Rosenman LLP with respect to tax matters (see Exhibit 8.1 to Form 8-K filed on May 29, 2024, in connection with Registration Statement Nos. 333-261851 and 333-261851-04, which is incorporated by reference herein). 10.1Purchase Agreement, dated as of May 29, 2024, between AmeriCredit, as Seller, and AFS SenSub, as Purchaser. 10.6Asset Representations Review Agreement, dated May 29, 2024, among the Issuing Entity, AmeriCredit, as Servicer, and Clayton, as Asset Representations Reviewer. 3 10.7Second Amended and Restated Servicing Agreement, dated as of January 1, 2006, between AmeriCredit and General Motors Financial of Canada, Ltd. (see Exhibit 10.3 to Form SF-3/A filed on February 28, 2022, in connection with Registration Statement No. 333-261851, which is incorporated by reference herein). 4
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2024-1 By: AmeriCredit Financial Services, Inc., as Servicer By: /s/ Frank E. Brown III Name: Frank E. Brown III Title: Senior Vice President, Corporate Counsel and Secretary Dated: May 31, 2024 5