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