CREDIT ACCEPTANCE CORP (CACC): debt financing — Credit Acceptance completes $450M asset-backed financing at ~5.2% cost

CREDIT ACCEPTANCE CORP

Conveyed $562.6M of consumer loans as collateral; notes issued in three tranches: $248.75M Class A (4.65%), $91.32M Class B (4.96%), $109.93M Class C (5.28%).
Expected average annualized cost ~5.2% including fees; financing revolves for 24 months then amortizes.
Proceeds to repay higher-cost outstanding debt and for general corporate purposes.
Company receives 4.0% of loan cash flows as servicing fee; 96% used for note payments and dealer holdback.
Financing is non-recourse to Credit Acceptance except for customary rep/indemnity obligations.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

CREDIT ACCEPTANCE CORP incurred senior notes of $450.0 million at expected average annualized cost of approximately 5.2% maturing revolve for 24 months after which it will amortize.

Instrument: senior notes
Principal: $450.0 million
Rate: expected average annualized cost of approximately 5.2%
Maturity: revolve for 24 months after which it will amortize
Event: incurrence

Exact text from the filing

On May 5, 2026, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $450.0 million asset-backed non-recourse secured financing (the “Financing”).

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Source: SEC EDGAR

accession 0000885550-26-000098

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