Americredit Corp. Completes $200 Million Private Senior Unsecured Debt Offering.FORT WORTH, Texas--(BUSINESS WIRE)--April 16, 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 completed the private issuance of $200 million of 9.875% Senior Notes due 2006 to certain qualified institutional buyers In law, a Qualified Institutional Buyer is a purchaser of securities that is financially sophisticated and is legally recognized by security market regulators to need less protection from sellers than most members of the public. . The Notes, which are unsecured, were priced at par. The proceeds will be used to fund the Company's growth, including increasing the amount of automobile and other loans the Company can acquire, originate and hold for pooling and sale in the asset-backed securities Asset-backed security A security that is collateralized by loans, leases, receivables, or installment contracts on personal property, not real estate. asset-backed security A debt security collateralized by specific assets. market. The Notes sold by AmeriCredit in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold 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. absent such registration or an applicable exemption from the registration requirements. 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. |
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