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Stock impact report

Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility and Extension of $500.0 Million Asset-Backed Financing [Yahoo! Finance]

Credit Acceptance Corporation (CACC) 
Last credit acceptance corporation earnings: 1/30 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.creditacceptance.com/investor-relations
Company Research Source: Yahoo! Finance
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. Under the amendment effecting the extension, the date on which the Financing will cease to revolve has been extended from August 15, 2025 to September 15, 2026. The amendment also increased the interest rate under the Financing from 5.15% to 5.43%. There were no other material changes to the terms of the Financing. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit fr Show less Read more
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