Credit Acceptance completes $600 million asset-backed secured financing
Reuters2026/08/26 09:33Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
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- Credit Acceptance completed a USD 600 million asset-backed non-recourse secured financing backed by about USD 750.2 million of consumer loans.
- Trust issued three classes of notes totaling USD 600 million, led by USD 319.88 million Class A notes priced at 99.99%.
- Financing implies an expected average annualized cost of about 5.5%, including upfront fees, with a 24-month revolving period.
- Proceeds targeted to repay higher-cost debt, supporting general corporate purposes, with about USD 1.8 billion of remaining liquidity capacity.
Disclaimer:
This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Credit Acceptance Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000885550-26-000185), on August 25, 2026, and is solely responsible for the information contained therein.
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