debt
confidence high
sentiment neutral
materiality 0.50
Credit Acceptance announces $322M of $400M notes tendered in debt tender offer
CREDIT ACCEPTANCE CORP
- $322,270,000 of $400M 5.125% senior notes due 2024 validly tendered by Dec 14 expiration.
- Tender offer price of $1,000 per $1,000 principal plus accrued interest; settlement expected Dec 19.
- Closing conditioned on successful completion of new senior debt offering, expected around Dec 19.
- Wells Fargo Securities acted as dealer manager; Global Bondholder Services as tender agent.