AmeriCredit Expands Credit Facilities to $2.2 Billion.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--July 11, 2000 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 closed $800 million in new structured warehouse facilities. This amount includes a $500 million facility with Deutsche Bank AG as agent and a $300 million facility with Barclays Bank PLC as agent. Both facilities mature in June 2001. AmeriCredit has $1.4 billion in other similarly structured warehouse facilities. These facilities include a $725 million 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 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 $275 million 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, and a $30 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. AmeriCredit now has warehouse capacity totaling $2.2 billion. AmeriCredit is the largest middle market automobile finance company in North America specializing in purchasing and servicing automobile loans. AmeriCredit maintains a Web site at www.americredit.com that contains further information on the Company. |
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