secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0000885550-24-000147
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000147/0000885550-24-000147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000147/cacc-20241220.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000147

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