Credit Acceptance closes $600M ABS securitization, repaying higher-cost debt

CREDIT ACCEPTANCE CORP

Conveyed ~$750.2M consumer loans to Credit Acceptance Auto Loan Trust 2026-2 in non-recourse financing.
Notes: $319.88M Class A at 5.01%, $117.3M Class B at 5.29%, $162.82M Class C at 5.51%; expected all-in cost ~5.5%.
Revolves 24 months then amortizes; proceeds to repay higher-cost debt and general corporate purposes.
Treasurer Jay Brinkley cites lowest credit spreads since late 2021; higher Treasury rates drove slight cost increase vs May deal.
Post-financing liquidity: ~$1.8B unused revolver capacity plus unrestricted cash.

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