Credit Acceptance to redeem remaining 2024 notes on Dec. 31

By Mary Katherine Stinson

Lexington, Ky., Dec. 21 – Credit Acceptance Corp. announced it will redeem the notes that remain outstanding after the conclusion of its cash tender offer for any and all of its $400 million 5 1/8% senior notes due 2024 (Cusip: 225310AN1), according to a Tuesday press release.

The company has elected to redeem the remaining notes at par on Dec. 31.

U.S. Bank and Trust Co., NA is the trustee.

A total of $322.27 million of the notes had been tendered by the expiration of the offer on Dec. 14; those notes were accepted for purchase on Dec. 19.

Credit Acceptance is a Southfield, Mich.-based auto finance company.

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