Credit Acceptance Announces Closing of $500.0 Million Senior Notes Offering and Completion of Redemption of Senior Notes Due 2026

Core Viewpoint - Credit Acceptance Corporation has successfully closed a $500 million offering of 6.625$500 million aggregate principal amount of its 6.625% senior notes due 2030 at an issue price of 100% of the principal amount [1]. - The net proceeds from the offering are expected to be approximately $492.9 million after deducting fees and expenses [3]. Group 2: Redemption of Existing Notes - The company completed the redemption of all its 6.625% senior notes due 2026 in accordance with the indenture governing those notes [2]. - A portion of the net proceeds from the new offering was used to fund the redemption of the 2026 notes [3]. Group 3: Use of Proceeds - The remaining net proceeds from the offering will be utilized for general corporate purposes [3]. Group 4: Regulatory Compliance - The notes were offered only to qualified institutional buyers under Rule 144A of the Securities Act, and they will not be registered under the Securities Act [4].