04/16/2026 | Press release | Distributed by Public on 04/16/2026 10:49
| Item 1.01. |
Entry into a Material Definitive Agreement. |
AFS SenSub Corp. ("AFS SenSub"), as depositor, and AmeriCredit Financial Services, Inc. d/b/a GM Financial ("GM Financial"), as sponsor, have caused a newly formed issuing entity, GM Financial Consumer Automobile Receivables Trust 2026-2 (the "Issuing Entity"), to issue $218,350,000 Class A-1 3.826% Asset Backed Notes (the "Class A-1 Notes"), $375,400,000 Class A-2-A 4.05% Asset Backed Notes (the "Class A-2-A Notes"), $100,000,000 Floating Rate Asset Backed Notes (the "Class A-2-B Notes"), $475,400,000 Class A-3 4.15% Asset Backed Notes (the "Class A-3 Notes"), $60,170,000 Class A-4 4.22% Asset Backed Notes (the "Class A-4 Notes"), $20,900,000 Class B 4.44% Asset Backed Notes (the "Class B Notes") and $19,590,000 Class C 4.64% Asset Backed Notes (the "Class C Notes" and together with the Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes, the "Notes"), and an Asset Backed Certificate (the "Certificate"), on April 15, 2026 (the "Closing Date"). The Notes will be registered under the Registration Statement. This Current Report on Form 8-K is being filed to satisfy an undertaking to file copies of certain agreements to be executed in connection with the issuance of the Notes, the forms of which were filed as Exhibits to the Registration Statement.
The Notes evidence indebtedness of the Issuing Entity, the assets of which consist primarily of "prime" automobile loan contracts (the "Receivables") secured by new and used automobiles, light duty trucks and utility vehicles. The Notes will be sold to J.P. Morgan Securities LLC ("J.P. Morgan" or the "Representative"), BMO Capital Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Lloyds Securities Inc., BNP Paribas Securities Corp., Cabrera Capital Markets, LLC, Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc., pursuant to the Underwriting Agreement attached hereto as Exhibit 1.1, dated as of April 8, 2026 (the "Underwriting Agreement"), among GM Financial, AFS SenSub and the Representative.
| Item 8.01. |
Other Events. |
The Issuing Entity was formed, and the Certificate was issued, pursuant to the Trust Agreement, attached hereto as Exhibit 4.2, dated as of February 27, 2026, as amended and restated as of April 15, 2026 (the "Trust Agreement"), between AFS SenSub and Wilmington Trust Company ("WTC"), as Owner Trustee. The Notes were issued pursuant to the Indenture, attached hereto as Exhibit 4.1, dated as of April 15, 2026 (the "Indenture"), between the Issuing Entity and The Bank of New York Mellon ("BNYM"), as Trustee and Trust Collateral Agent.
AFS SenSub purchased the Receivables from GM Financial pursuant to the Purchase Agreement, attached hereto as Exhibit 10.1, dated as of April 15, 2026 (the "Purchase Agreement"), between GM Financial and AFS SenSub. The Issuing Entity purchased the Receivables from AFS SenSub pursuant to the Sale and Servicing Agreement, attached hereto as Exhibit 4.3, dated as of April 15, 2026 (the "Sale and Servicing Agreement"), among the Issuing Entity, AFS SenSub, GM Financial and BNYM, as Trust Collateral Agent.
GM Financial, as Servicer, has agreed to perform servicing duties with regard to the Receivables pursuant to the Sale and Servicing Agreement and has also agreed to serve as custodian of the Receivables pursuant to the Sale and Servicing Agreement.
The Issuing Entity has engaged Clayton Fixed Income Services LLC ("Clayton") as Asset Representations Reviewer pursuant to the Asset Representations Review Agreement, attached hereto as Exhibit 10.6, dated as of April 15, 2026 (the "Asset Representations Review Agreement"), among the Issuing Entity, GM Financial, as Servicer, and Clayton, as Asset
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Representations Reviewer. The Asset Representations Reviewer has agreed to perform reviews of certain Receivables for compliance with the representations and warranties made by GM Financial and AFS SenSub about the Receivables.