Southfield, Michigan, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $200.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $252.0 million to a wholly owned special purpose entity that will pledge the loans to an institutional lender under a loan and security agreement. We will issue three classes of notes:
Note Class | Amount | Interest Rate | ||||
A | $ | 100,830,000 |