secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0000885550-24-000111
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000111/0000885550-24-000111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000111/cacc-20240919.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000111

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