Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility and Extension of $500.0 Million Asset-Backed Financing
Credit Acceptance Corporation (CACC)
Last credit acceptance corporation earnings: 1/30 04:02 pm
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US:NASDAQ Investor Relations:
ir.creditacceptance.com/investor-relations
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Source: GlobeNewswire
Southfield, Michigan , Sept. 19, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of Warehouse Facility II (the “Facility”), one of our revolving secured warehouse facilities, from $400.0 million to $500.0 million. We also extended the date on which the Facility will cease to revolve from April 30, 2026 to September 20, 2027. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate (“SOFR”) plus 230 basis points to SOFR plus 185 basis points. There were no other material changes to the Facility. As of September 19, 2024, we had $201.0 million outstanding under the Facility. Additionally, we announced today that we have extended the $500.0 million asset-backed non-recourse secured financing that we entered into on August 28, 2019 (the “Financing”) and to which we refer as Term ABS 2019-2. U
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News
- Is Credit Acceptance (CACC) Trading at an Attractive Upside-To-Downside Ratio? [Yahoo! Finance]Yahoo! Finance
- Credit Acceptance Co. (NASDAQ: CACC) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Credit Acceptance Co. (NASDAQ: CACC) had its price target lowered by analysts at TD Cowen from $400.00 to $380.00. They now have a "sell" rating on the stock.MarketBeat
- CACC Stock Tanks 8% as Q3 Earnings Lag on Higher Provisions [Yahoo! Finance]Yahoo! Finance
- Credit Acceptance Announces Third Quarter 2024 ResultsGlobeNewswire
CACC
Earnings
- 10/30/24 - Miss
CACC
Sec Filings
- 11/4/24 - Form 4
- 10/30/24 - Form 10-Q
- 10/30/24 - Form 8-K
- CACC's page on the SEC website