Credit Acceptance Announces $400.0 Million Senior Notes Offering

Core Points - Credit Acceptance Corporation plans to offer $400.0 million in senior notes due 2030 to fund the redemption of its outstanding$400.0 million 6.625% senior notes due 2026 [1] - The net proceeds from the offering will also cover fees and expenses related to the redemption process [1] - Until the proceeds are applied, they may be invested in short-term investments or used to repay borrowings under the revolving credit facility [1] Regulatory Information - The notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933 [2] - The notes will not be registered under the Securities Act and cannot be sold in the U.S. without registration or an applicable exemption [2] - This announcement does not constitute a notice of redemption for the 2026 notes [2]