Attached files

file filename
EX-4.125 - EXHIBIT 4.125 - CREDIT ACCEPTANCE CORPamendmentno2to5tharlsa.htm
EX-4.126 - EXHIBIT 4.126 - CREDIT ACCEPTANCE CORPamendmentno1toarbackupserv.htm
EX-99.1 - EXHIBIT 99.1 - CREDIT ACCEPTANCE CORPpr20140718warehouserenewal.htm
 


 
UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of Earliest Event Reported):  July 18, 2014



CREDIT ACCEPTANCE CORPORATION
(Exact name of registrant as specified in its charter)



Michigan
 
000-20202
 
38-1999511
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
 
 
 
 
  25505 West Twelve Mile Road
 
 
 
 
Southfield, Michigan
 
 
 
48034-8339
  (Address of principal executive offices)
 
 
 
(Zip Code)


Registrant’s telephone number, including area code:   248-353-2700



 
Not Applicable
 
Former name or former address, if changed since last report


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




 

 

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 July 18, 2014, Credit Acceptance Corporation (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) executed the Second Amendment to the Fifth Amended and Restated Loan and Security Agreement (“Warehouse Amendment”) dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Variable Funding Capital Company LLC, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association. The Warehouse Amendment extends the date on which our $325.0 million revolving secured warehouse facility will cease to revolve from December 27, 2015 to July 18, 2017. There were no material changes to the terms of the facility.

As of July 18, 2014, we had $162.6 million outstanding under the facility.


Item 8.01 Other Events.

On July 18, 2014, we issued a press release announcing the execution of the Warehouse 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.
 
 
 
 
 
4.125
 
 
 
Second Amendment to the Fifth Amended and Restated Loan and Security Agreement dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Variable Funding Capital Company LLC, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association.

4.126
 
 
 
First Amendment to the Amended and Restated Backup Servicing Agreement dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association.

99.1
 
 
 
Press Release dated July 18, 2014




 




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
CREDIT ACCEPTANCE CORPORATION
 
 
 
 
 
Date: July 23, 2014
By:
/s/ Douglas W. Busk
 
 
 
Douglas W. Busk
 
 
 
Senior Vice President and Treasurer
 
 
 
 
 

 







EXHIBIT INDEX
 
 
 
 
 
Exhibit No.
 
Description
4.125
 
 
 
Second Amendment to the Fifth Amended and Restated Loan and Security Agreement dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Variable Funding Capital Company LLC, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association.

4.126
 
 
 
First Amendment to the Amended and Restated Backup Servicing Agreement dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association.

99.1
 
 
 
Press Release dated July 18, 2014