Credit Acceptance Corporation (CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $500.0 million asset-backed non-recourse secured financing (the “Financing”).  Pursuant to this transaction, we contributed approximately $625.1 million of loans to a wholly-owned special purpose entity that will pledge the loans to an institutional lender under a loan and security agreement.

source https://finance.yahoo.com/news/credit-acceptance-announces-completion-500-200200230.html?.tsrc=rss