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Credit Acceptance Announces Completion of $550.0 Million Asset-Backed Financing
CACCCredit Acceptance(CACC) Newsfilter·2024-06-20 20:02

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a 550.0millionasset−backednon−recoursesecuredfinancing(the"Financing").Pursuanttothistransaction,weconveyedloanshavingavalueofapproximately550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately 687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: have an expected av ...