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home / news releases / CACC - Credit Acceptance extends $500M asset-backed financing

CACC - Credit Acceptance extends $500M asset-backed financing

Credit Acceptance Corporation
  • Credit Acceptance ( NASDAQ: CACC ) said Friday it extended its $500M asset-backed non-recourse secured financing by 3 years.
  • The financing will now cease to revolve on Aug. 15, 2025.
  • The amendment also increased the interest rate under the financing from 3.13% to 5.15% and decreased the servicing fee from 6% to 4% of collections on underlying consumer loans.
  • There were no other changes to the financing's terms.

For further details see:

Credit Acceptance extends $500M asset-backed financing
Stock Information
Company Name: Credit Acceptance Corporation
Stock Symbol: CACC
Market: NASDAQ
Website: creditacceptance.com
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