July 14, 2024
News

CACC increases credit facility due to expanding portfolio

Credit Acceptance Corp. has prolonged its credit facility with a commercial bank syndicate and revised the interest rate on borrowings under the facility. The lender’s revolving secured line of credit facility’s maturity date was extended through June 22, 2027, from the original maturity date of June 22, 2026, as stated in a press release on June 17.

FAQ

  • What is Credit Acceptance Corp.’s credit facility extension related to?
  • What was the previous maturity date of the lender’s revolving line of credit facility?
  • When was the interest rate on borrowings under the facility updated?

Conclusion

The extension of Credit Acceptance Corp.’s credit facility with a commercial bank syndicate and the revised interest rate on borrowings demonstrate the company’s commitment to maintaining strong financial partnerships and optimizing its financing options.

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