Credit Acceptance Corporation announced on July 30, 2025, that it extended the non-revolve date of its $300.0 million revolving secured warehouse facility. The date was moved from December 29, 2026, to July 30, 2028, providing additional long-term funding stability. This extension supports the company's ongoing capital needs.
The interest rate on borrowings under this facility decreased from the Secured Overnight Financing Rate (SOFR) plus 221.4 basis points to SOFR plus 205 basis points. This reduction in borrowing costs enhances the financial efficiency of the company's operations. There were no other material changes to the terms of the facility.
As of July 30, 2025, Credit Acceptance reported no outstanding balance under this facility, indicating available capacity for future borrowings. This extension with a more favorable interest rate contributes positively to the company's overall financial health and capital management strategy.
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