FORT WORTH, Texas, Jun 22, 2007 (BUSINESS WIRE) -- AmeriCredit Corp. (NYSE:ACF) announced today that it has completed
the private issuance of $200 million of 8.50% Senior Notes due 2015 to
certain qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended.
The Notes, which are unsecured, were priced at par. The proceeds
will be used for general corporate purposes, potentially including the
repayment of AmeriCredit's 1.75% convertible senior notes due in 2023,
which are first callable in November 2008.
The Notes sold by AmeriCredit in the private placement have not
been registered under the Securities Act, and may not be offered or
sold in the United States absent such registration or an applicable
exemption from the registration requirements.
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 and Canada.
AmeriCredit has over one million customers and approximately $15
billion in managed auto receivables. The Company was founded in 1992
and is headquartered in Fort Worth, Texas. For more information, visit
Except for the historical information contained herein, the
matters discussed in this news release include forward-looking
statements that involve risks and uncertainties detailed from time to
time in the Company's filings and reports with the Securities and
Exchange Commission including the Company's annual report on Form 10-K
for the year ended June 30, 2006. Such risks include - but are not
limited to - variable economic conditions, adverse portfolio
performance, volatile wholesale values, reliance on warehouse
financing and capital markets, the ability to continue to securitize
its loan portfolio, the continued availability of credit enhancement
for its securitization transactions on acceptable terms, fluctuating
interest rates, increased competition, regulatory changes, the high
degree of risk associated with subprime borrowers, acquisition
integration and exposure to litigation. These forward-looking
statements are based on the beliefs of the Company's management as
well as assumptions made by and information currently available to
Company management. Actual events or results may differ materially.
SOURCE: AmeriCredit Corp.
Caitlin DeYoung, 817-302-7394
John Hoffmann, 817-302-7627