Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility

June 17, 2024

https://www.globenewswire.com/news-release/2024/06/17/2899991/3872/en/Credit-Acceptance-Announces-Extension-of-Revolving-Secured-Line-of-Credit-Facility.html

Southfield, Michigan, June 17, 2024 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2026 to June 22, 2027. The interest rate on borrowings under the facility has changed from the Bloomberg Short-Term Bank Yield Index rate plus 187.5 basis points to the Secured Overnight Financing Rate plus 197.5 basis points.

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