SOUTHFIELD, Mich., Feb. 28, 2011 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the "Company," "we," "our," or "us") announced today that it plans to offer $100 million of its 9.125% first priority senior secured notes due 2017 (the "notes"). The notes will constitute additional securities under an existing indenture (the "indenture") pursuant to which the Company issued $250 million of its 9.125% first priority senior secured notes due 2017 (the "existing notes") on February 1, 2010. The notes will have the same terms as the existing notes, other than issue price and issue date, and, together with the existing notes and any further 9.125% senior secured notes due 2017 that may be issued under the indenture, will be treated as a single class under the indenture. The notes will be guaranteed by certain of the Company's subsidiaries on a first priority senior secured basis.
Credit Acceptance Announces Proposed $100 Million Senior Secured Notes Offering
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