CREDIT ACCEPTANCE CORP (CACC): debt financing — Credit Acceptance closes $500M 6.625% senior notes due 2030, redeems all 2026 notes

CREDIT ACCEPTANCE CORP

Issued $500M aggregate principal of 6.625% senior notes due 2030 at 100% of par.
Net proceeds of approximately $492.9M after discounts and expenses.
Used portion of proceeds to redeem all outstanding 6.625% senior notes due 2026.
Interest payable semi-annually on March 15 and September 15, starting Sept 2025.
Notes guaranteed by two subsidiaries; covenants limit additional debt, dividends, investments.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CREDIT ACCEPTANCE CORP incurred senior notes of $500.0 million with U.S. Bank Trust Company, National Association at 6.625% maturing March 15, 2030.

Instrument: senior notes
Principal: $500.0 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.625%
Maturity: March 15, 2030
Event: incurrence

Exact text from the filing

On February 28, 2025, Credit Acceptance Corporation (referred to as the “Company,” “we,” “our,” or “us”) issued $500.0 million aggregate principal amount of 6.625% Senior Notes due 2030 (the “notes”).

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Source: SEC EDGAR

accession 0000885550-25-000023

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