Credit Acceptance Announces Completion Of $450.0 Million Asset-Backed Financing
Credit Acceptance completed a $450.0 million asset-backed non-recourse secured financing, conveying loans valued at approximately $562.6 million to a special purpose entity. The transaction involves three classes of notes with an expected average annualized cost of 5.2%, including a 24-month revolve period before amortization.
Key figures
- Deal Value Usd
- 450000000
- Revolve months
- 24
- Loans conveyed usd
- 562600000
- Expected cost percent
- 5.2
- Servicing fee percent
- 4
AI analysis
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