Credit Acceptance ups warehouse revolver to $500M, extends two debt facilities

CREDIT ACCEPTANCE CORP

Warehouse Facility II increased from $400M to $500M, maturity extended to Sept 20, 2027.
Interest rate on Warehouse Facility II reduced from SOFR+230bps to SOFR+185bps.
Term ABS 2019-2 ($500M) revolving period extended to Sept 15, 2026; rate raised from 5.15% to 5.43%.
$201M outstanding under Warehouse Facility II as of Sept 19, 2024.
Amendments involve Wells Fargo and Computershare as counterparties.

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