AmeriCredit Announces Plan to Redeem All Outstanding 9 7/8% Senior Notes Due April 2006.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--March 15, 2004 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 ) today announced its plans to redeem at 102.469% all outstanding 9 7/8% Senior Notes due 2006 on April 15, 2004. The aggregate redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. , including principal and accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. , is expected to be approximately $178 million. In that regard, AmeriCredit has notified J.P. Morgan Trust Company, National Association, trustee for the holders of AmeriCredit's 9 7/8% Senior Notes due 2006. A notice of redemption will be mailed by the trustee to the registered holders of the Notes. The CUSIP number for the Notes is 03060RAG36. After redeeming the notes, the Company will have approximately $168 million of 9.25% Senior Notes due in 2009 and $200 million of 1.75% convertible notes due in 2023. AmeriCredit Corp. is a leading independent middle-market auto finance company. Using its branch network and strategic alliances with auto groups and banks, the Company purchases retail installment contracts entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has more than one million customers and approximately $13 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in 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. . For more information, visit www.americredit.com. |
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