Southfield, Michigan, March 25, 2015 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation
(
NASDAQ: CACC) (referred to as the
"Company", "Credit Acceptance", "we", "our", or "us") announced
today that it plans to offer $250 million of senior notes due 2023
(the "notes"). We intend to use the net proceeds from the offering
of the notes for general corporate purposes, which may include
repayment of outstanding borrowings, if any, under our revolving
credit facility.
The notes will be offered to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"). This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of, the notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The notes will not be registered under the Securities
Act and may not be offered or sold in the United States or to U.S.
persons absent registration or an applicable exemption from
registration requirements.
CONTACT: Investor Relations: Douglas W. Busk
Senior Vice President and Treasurer
(248) 353-2700 Ext. 4432
IR@creditacceptance.com
