FORT WORTH, Texas, Aug. 16, 2007 /PRNewswire-FirstCall/ -- AMERICREDIT
CORP. (NYSE: ACF) today announced the extension of its $500 million repurchase
facility structured by Barclays Capital. AmeriCredit uses this facility to
finance the repurchase of receivables from securitization transactions that
have reached the 10% clean-up call. This facility, which matures in August
2008, provides for improved advance rates on upcoming borrowings based on the
cumulative net losses of securitizations when called. AmeriCredit has total
available warehouse commitments of $5.35 billion, of which $4.15 billion have
maturities subsequent to June 2008.
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 $16 billion in managed auto receivables. The
Company was founded in 1992 and is headquartered in Fort Worth, Texas. For
more information, visit http://www.americredit.com.
Investor Relations Media Relations
Caitlin DeYoung John Hoffmann
(817) 302-7394 (817) 302-7627
SOURCE AmeriCredit Corp.
CONTACT: investors, Caitlin DeYoung, +1-817-302-7394, or media, John
Hoffmann, +1-817-302-7627, both of AmeriCredit Corp.