CREDIT ACCEPTANCE CORP (CACC): debt financing — Credit Acceptance extends $75M warehouse facility maturity to Sep 2026

CREDIT ACCEPTANCE CORP

Extended revolving secured warehouse facility cease-to-revolve date from Sep 30, 2024 to Sep 30, 2026.
No other material changes to facility terms; no balance outstanding as of Aug 4, 2023.
Facility size remains $75.0 million; counterparty is Flagstar Bank.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CREDIT ACCEPTANCE CORP amended credit facility of $75.0 million with Flagstar Bank, N.A. maturing September 30, 2026.

Instrument: credit facility
Principal: $75.0 million
Counterparty: Flagstar Bank, N.A.
Maturity: September 30, 2026
Event: amendment

Exact text from the filing

The Warehouse Amendment extends the date on which our $75.0 million revolving secured warehouse facility will cease to revolve from September 30, 2024 to September 30, 2026.

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Source: SEC EDGAR

accession 0000885550-23-000090

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