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GlobeNewswire·

Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility and Extension of $500.0 Million Asset-Backed Financing

  • Credit Acceptance Corporation extended the revolving date of its $500 million secured warehouse facility from September 20, 2027, to September 15, 2028.
  • The interest rate on borrowings under the facility was reduced from SOFR plus 185 basis points to SOFR plus 175 basis points.
  • Outstanding debt under the facility stood at $180 million as of September 15, 2026.
  • The company extended the $500 million Term ABS 2019-2 financing from September 15, 2026, to September 15, 2028.
  • The interest rate for the Term ABS 2019-2 financing increased from 5.43% to 5.83%.
  • No other material changes were made to the terms of either the facility or the financing.