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Apex Trader Funding (ATF) - News

Credit Acceptance Announces Completion of $550.0 Million Asset-Backed Financing

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: Note Class   Amount   Average Life   Price     Interest Rate     A   $ 272,440,000     2.50 years     99.99846 %