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CACC - Credit Acceptance Announces Completion of $500.0 Million Asset-Backed Financing | Benzinga
Credit Acceptance Corporation
Southfield, Michigan, March 28, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $500.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $625.2 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: