Credit Acceptance Announces Completion of $500.0 Million Asset-Backed Financing

March 28, 2024

https://www.globenewswire.com/news-release/2024/03/28/2854448/3872/en/Credit-Acceptance-Announces-Completion-of-500-0-Million-Asset-Backed-Financing.html

Southfield, Michigan, March 28, 2024 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq:CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $500.0 million asset-backed non-recourse secured financing (the “Financing”).  Pursuant to this transaction, we conveyed loans having a value of approximately $625.2 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:

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