Credit Acceptance Increases Revolving Secured Warehouse Facility to $250 Million

MT Newswires Live

2024/12/06

Credit Acceptance (CACC) said Thursday it raised the amount of Warehouse Facility V, a revolving secured warehouse facility, to $250 million from $200 million.

The company has extended the revolving period to Dec. 29, 2027, from Dec. 29, 2025, and extended the maturity date to Dec. 27, 2029, from Dec. 27, 2027.

The interest rate on borrowings was lowered to the secured overnight financing rate plus 185 basis points from SOFR plus 245 points with no outstanding balance under the facility as of Thursday.

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