secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-06-20T23:59:59+00:00
Accession:  0000885550-24-000077
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance extends revolver maturity to 2027, rate switches to SOFR+197.5 bps
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- Maturity of secured line of credit extended from June 22, 2026 to June 22, 2027.
- Interest rate changed from BSBY +187.5 bps to SOFR +197.5 bps.
- Outstanding balance under the facility: $66.8 million as of June 17, 2024.
- No other material changes to facility terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000077/0000885550-24-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000077/cacc-20240617.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000077

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