secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2025-11-19T23:59:59+00:00
Accession:  0000885550-25-000131
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CACC completes $500M asset-backed financing, its 60th term securitization
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- Issued $500M in three classes of ABS notes: A ($284.6M, 4.50%), B ($104.6M, 4.87%), C ($110.8M, 5.38%).
- Expected average annualized cost of ~5.1% including upfront fees; revolver for 24 months, then amortizes.
- Proceeds used to repay higher-cost debt and for general corporate purposes.
- Company maintains ~$2.0B in unused borrowing capacity and unrestricted cash after closing.
- Treasurer Jay Brinkley noted this is the lowest-cost ABS transaction since late 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555025000131/0000885550-25-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555025000131/cacc-20251113.htm
  HTML page:      https://secwatch.observer/filing/0000885550-25-000131

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