Credit Acceptance conditionally redeems $400M of 6.625% notes due 2026 with new 2030 notes

CREDIT ACCEPTANCE CORP

Conditional notice to redeem all $400M of 6.625% senior notes due 2026 on Feb 28, 2025.
Redemption conditioned on receiving at least $400M from new senior notes due 2030 offering.
Refinancing extends debt maturity from 2026 to 2030; terms of new notes not yet detailed.
Company expects to use proceeds to fund redemption, net of discounts and expenses.

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