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Credit Acceptance Prices $500 Million in Senior Notes Due 2030

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Credit Acceptance Prices $500 Million in Senior Notes Due 2030

Feb 13, 2025 2:45 PM

05:20 PM EST, 02/13/2025 (MT Newswires) -- Credit Acceptance ( CACC ) priced its $500 million offering of 6.625% senior notes due 2030 at an issue price of 100% of the principal amount.

The offering, boosted by $100 million from the initial announcement, is expected to close around Feb. 28, the company said Thursday in a statement.

Proceeds from the offering are expected to be used to redeem $400 million of outstanding 6.625% senior notes due 2026 and for general corporate purposes, the company said.

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