Southfield, Michigan, Feb. 28, 2025 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the closing of the Company’s previously announced offering of $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the “notes”) at an issue price of 100% of the principal amount of the notes in a private offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).
The Company also announced today that it completed the previously announced redemption (the “Redemption”) of all of its 6.625% senior notes due 2026 (the “2026 notes”) in accordance with the indenture governing the 2026 notes (the “2026 notes indenture”). Information concerning the terms and conditions of the Redemption were provided in the notice of redemption that was given to holders of the 2026 notes by the Trustee in the name of the Company in accordance with the 2026 notes indenture.
The Company expects the net proceeds from the …
