CACC - Credit Acceptance extends its revolving secured line of credit facility

Credit Acceptance (NASDAQ:CACC) has extended the maturity of its revolving secured line of credit facility with a commercial bank syndicate from June 22, 2024 to June 22, 2025. Prior to this amendment, the amount of the facility was set to decrease by $35M, however this amendment increased the amount of the facility by $10M resulting in a net decrease of $25M, from $435M to $410M. As previously reported, the amount of the facility will continue to further decrease by $25M on June 22, 2023. As of June 22, 2022, The Co. had $192.5M outstanding under the line of credit facility.

For further details see:

Credit Acceptance extends its revolving secured line of credit facility