secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0000885550-23-000002
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance expands warehouse facility to $200M, extends maturity to 2027; extends Term ABS 2021-1
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- Warehouse Facility V increased from $125M to $200M; maturity extended to Dec 2027.
- Revolving period extended to Dec 2025; interest rate increased to SOFR+245bps; servicing fee cut to 4%.
- Term ABS 2021-1 revolving period extended to Dec 2024; rate to SOFR+220bps; servicing fee to 4%.
- No balance outstanding on warehouse facility as of Dec 27, 2022.
- Fifth Third Bank is lender and agent for both facilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000002/0000885550-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000002/cacc-20221227.htm
  HTML page:      https://secwatch.observer/filing/0000885550-23-000002

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