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CACC > SEC Filings for CACC > Form 8-K on 24-Jun-2013All Recent SEC Filings

Show all filings for CREDIT ACCEPTANCE CORP

Form 8-K for CREDIT ACCEPTANCE CORP


24-Jun-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financial


Item 1.01 Entry into a Material Definitive Agreement.

The information set forth below under Item 2.03 is hereby incorporated by reference into this Item 1.01.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On June 20, 2013, Credit Acceptance Corporation (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") executed the Second Amendment to the Fifth Amended and Restated Credit Agreement (the "Credit Amendment"), dated as of June 20, 2013, among the Company, the other banks which are parties thereto from time to time (collectively, the "Banks"), and Comerica Bank as Administrative Agent and Collateral Agent for the Banks. The Credit Amendment extends the maturity of the revolving secured line of credit facility from June 22, 2015 to June 23, 2016. There were no other material changes to the terms of the facility.

The revolving secured line of credit facility continues to be secured by a lien on most of our assets. As of June 20, 2013 we had $117.7 million outstanding under the facility.

The foregoing description of the Credit Amendment is qualified in its entirety by reference to the complete terms and conditions of the Credit Amendment, which is attached as Exhibit 4.92 to this Form 8-K and incorporated herein by reference.



Item 8.01 Other Events.

On June 20, 2013, we issued a press release announcing the execution of the Credit Amendment. The press release is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

4.92 Second Amendment to the Fifth Amended and Restated Credit Agreement, dated as of June 20, 2013, among the Company, the Banks which are parties thereto from time to time, and Comerica Bank as Administrative Agent and Collateral Agent for the Banks.

99.1 Press Release dated June 20, 2013.


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