2023-04-28 17:12:05 ET
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Credit Acceptance ( NASDAQ: CACC ) said Friday it has extended the maturity date of its $400.0 million revolving secured warehouse facility by two years to April 30, 2026.
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The interest rate on borrowings under the facility has increased from LIBOR plus 175 basis points to SOFR plus 230 basis points.
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There were no other material changes to the terms of the facility.
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As of April 28, 2023, the company had $201.0 million outstanding under the facility.
For further details see:
Credit Acceptance extends maturity on $400M revolving facility by 2 years