AmeriCredit Announces New Warehouse Financing Agreement.FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. -- AMERICREDIT CORP. (NYSE NYSE See: New York Stock Exchange : ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function ) announced today that it has entered into a $750 million structured, medium term note financing insured by MBIA MBIA Montana Building Industry Association MBIA Municipal Bond Insurance Association MBIA Michigan Boating Industries Association MBIA Municipal Bond Investors Assurance MBIA Massachusetts Brain Injury Association MBIA Maryland Business Incubation Association Insurance Corporation ("MBIA"). This financing, which matures in October 2009, will replace the existing $650 million medium term note financing insured by MBIA that will be retired on Oct. 11, 2006. AmeriCredit uses proceeds from warehouse facilities to finance the purchase of auto finance contracts. With these changes, AmeriCredit will have $4.15 billion of committed warehouse facilities. About AmeriCredit AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. AmeriCredit has approximately one million customers and $12 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion