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May 5, 2026 4:11 PM

Credit Acceptance Announces Completion Of $450.0 Million Asset-Backed Financing

Southfield, Michigan, May 05, 2026 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $450.0 million asset-backed non-recourse secured financing (the "Financing").  Pursuant to this transaction, we conveyed loans having a value of approximately $562.6 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:

Note Class

 

Amount

 

Average Life

 

Price

 

 

Interest Rate

 

 

A

 

$

248,750,000

 

 

2.50 years

 

 

99.99851%