OPENLANE, Inc. Extends Receivables Financing Facilities to Jan 31, 2030

What Happened

• OPENLANE, Inc. (through subsidiaries Automotive Finance Corporation and Automotive Finance Canada Inc.) announced on Sep 25, 2026 that it entered into amendments to two receivables purchase/loan agreements, extending the related facilities’ termination/commitment expiration dates from January 31, 2028 to January 31, 2030. The U.S. amendment (Second Amendment) amends the Tenth Amended and Restated Receivables Purchase Agreement (originally dated Sep 28, 2022) and involves lenders including Fairway Finance, Fifth Third Bank, PNC, Truist, JPMorgan Chase, Royal Bank of Canada, and others. The Canadian amendment (Amendment No. 4) amends the Receivables Purchase Agreement dated Mar 1, 2023, and involves Computershare Trust Company of Canada (trustee), BMO Nesbitt Burns and Royal Bank of Canada.

Key Details

• Amendments executed on September 25, 2026; 8-K filed Sep 28, 2026.
• Both facilities’ termination/commitment expiration dates extended from Jan 31, 2028 to Jan 31, 2030.
• Parties: Automotive Finance Corporation and AFC Funding (U.S. facility) and Automotive Finance Canada Inc. and AFCI Funding Trust (Canadian facility); multiple bank and asset purchasers listed as lenders/agents.
• The full amendment documents will be included as exhibits in OPENLANE’s Form 10-Q for the quarter ended Sep 30, 2026.

Why It Matters

• These amendments preserve and extend OPENLANE’s receivables-backed financing arrangements through January 31, 2030, maintaining access to working capital tied to vehicle receivables. For investors, the extensions reduce near-term rollover risk for these funding lines; the filing does not disclose changes to pricing or other financial terms in this 8-K.