Credit Acceptance Corporation Announces $400 Million Senior Notes Offering

Credit Acceptance Corporation (Nasdaq: CACC) has declared its intention to offer $400 million aggregate principal amount of senior notes due in 2030, according to an 8-K filing with the Securities and Exchange Commission on February 13, 2025. The company plans to utilize the net proceeds from this offering, alongside cash on hand, to facilitate the redemption of all outstanding $400 million 6.625% senior notes due in 2026.

The senior notes will be exclusively offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933. Credit Acceptance Corporation emphasized that this press release should not be considered an offer to sell or a solicitation of an offer to buy the notes, and the offering will only occur once properly registered or exempt from registration as per securities laws, with a specific restriction on sales within the United States or to U.S. persons.

In a cautionary statement regarding forward-looking information, Credit Acceptance Corporation highlighted that the forward-looking statements provided in the release reflect the company’s current expectations as of the publication date. These forward-looking statements are subject to risks and uncertainties, and actual results could differ from the anticipated outcomes due to various factors mentioned in the company’s reports filed with the SEC.

Credit Acceptance Corporation emphasized its commitment to updating statements in compliance with applicable laws when necessary. The company disclaimed any obligation to alter or revise its statements, except as mandated by law or significant developments. Investors are encouraged to review the risk factors outlined in the company’s recent filings with the SEC for a comprehensive understanding of the potential impacts on future operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Credit Acceptance’s 8K filing here.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.