secwatch.observer — SEC 8-K summary
======================================

Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000885550-23-000054
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance extends $400M warehouse facility to 2026, switches to SOFR+230bps
--------------------------------------------------------------------------------

- Facility maturity extended from April 30, 2024 to April 30, 2026.
- Interest rate changed from LIBOR+175bps to SOFR+230bps; no other material changes.
- Outstanding borrowings under the facility were $201.0 million as of April 28, 2023.
- Facility size remains $400.0 million revolving secured warehouse line with Wells Fargo.
- Amendment entered on April 28, 2023; press release issued the same day.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000054/0000885550-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000054/cacc-20230428.htm
  HTML page:      https://secwatch.observer/filing/0000885550-23-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer