AmeriCredit Corp. Expands Credit Facilities to Over $1.4 Billion.FORT WORTH, Texas--(BUSINESS WIRE)--Sept. 30, 1999-- 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 new $250 million structured warehouse facility with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A. as agent. This new facility matures September 2000. AmeriCredit also has a $675 million structured warehouse facility with The Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. as agent, a $375 million structured warehouse facility with Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. as agent, a $115 million credit agreement led by Wells Fargo Bank and a $20 million Cdn. credit agreement for its Canadian operations provided by ScotiaBank. The Company's credit facilities are used to finance the purchase of automobile receivables prior to securitization. With the closing of the new $250 million facility, AmeriCredit has warehouse capacity totaling over $1.4 billion. AmeriCredit is a national consumer finance company specializing in purchasing, securitizing and servicing automobile loans and originating and selling mortgage loans. AmeriCredit maintains a Web site at www.americredit.com that contains further information on the Company. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion