Credit acceptance announces completion of $389.9 million asset-backed financing

Southfield, michigan , nov. 03, 2022 (globe newswire) -- credit acceptance corporation (nasdaq: cacc) (the “company”, “credit acceptance”, “we”, “our”, or “us”) announced today the completion of a $389.9 million asset-backed non-recourse secured financing (the “financing”).  pursuant to this transaction, we contributed loans having a value of approximately $500.1 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue four classes of notes:
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