Credit Acceptance closes $300M asset-backed financing; notes priced 5.79%-6.67%

CREDIT ACCEPTANCE CORP

Conveyed $375.1M in consumer loans to SPE, issued three note classes totaling $300M.
Class A ($139.2M, 5.79%), Class B ($62.2M, 6.03%), Class C ($98.6M, 6.67%).
Expected average annualized cost ~6.3% including fees; 36-month revolving period then amortizes.
Proceeds to repay outstanding indebtedness and for general corporate purposes.
4% of cash flows retained for servicing; structure preserves dealer holdback rights.

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