trending Market Intelligence /marketintelligence/en/news-insights/trending/vZDGjiyLnxJMaWWr5Zt76g2 content esgSubNav
In This List

Credit Acceptance discloses results of tender offer for notes due 2021

Blog

Banking Essentials Newsletter: July 10th Edition

Blog

Enabling Growth in the EMEA Loan Market

Podcast

Masters of Risk | Episode 12 - Women's Panel

Blog

Banking Essentials Newsletter: June 26th Edition


Credit Acceptance discloses results of tender offer for notes due 2021

Credit Acceptance Corp. noteholders validly tendered and did not withdraw about $148.2 million of 6.125% senior notes due 2021 in the company's cash tender offer.

Credit Acceptance had offered to purchase up to $300 million of the notes. The tender offer expired at 5 p.m. ET on Dec. 13. Holders who validly tendered their notes at or before the expiration will receive $1,002.80 for each $1,000 principal amount of the notes accepted for purchase, plus accrued and unpaid interest to but not including the settlement date of Dec. 18.

Credit Acceptance intends to fund the purchase of the notes with part of the proceeds from its senior debt offering expected to close on or about Dec. 18.

Global Bondholder Services Corp. was the tender and information agent for the offer. Wells Fargo Securities LLC was the dealer manager.