Southfield, Michigan , Dec. 21, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $294.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $375.1 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:
Note Class | Amount | Average Life | Price | Interest Rate | |||||||
A | $ | 158,090,000 | 2.41 years | 99.99764% |