Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility From September 30, 2024 To September 30, 2026
Portfolio Pulse from Happy Mohamed
Credit Acceptance Corporation (CACC) has extended the date on which its $75.0 million revolving secured warehouse facility will cease to revolve from September 30, 2024 to September 30, 2026. There were no other material changes to the terms of the facility. As of August 4, 2023, there was no balance outstanding under the facility.
August 04, 2023 | 8:04 pm
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Credit Acceptance Corporation has extended its revolving secured warehouse facility, which may provide additional financial flexibility for the company.
The extension of the revolving secured warehouse facility provides Credit Acceptance Corporation with additional time to access these funds if needed, which could potentially improve the company's financial flexibility. This could be seen as a positive move by investors, potentially leading to a short-term increase in the company's stock price.
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