secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-10-02T23:59:59+00:00
Accession:  0000885550-24-000113
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 closes $600M asset-backed securitization; notes bear 4.68-5.39% interest
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- Conveyed consumer loans valued at ~$750.2M to special-purpose trust.
- Notes: Class A $316.5M at 4.68%; Class B $121.7M at 4.85%; Class C $161.9M at 5.39%.
- Expected average annualized cost ~5.2% including fees; 24-month revolving period.
- Proceeds to repay outstanding debt and for general corporate purposes.
- Non-recourse to Credit Acceptance except for customary repurchase/indemnity obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000113/0000885550-24-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000113/cacc-20240926.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000113

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