Monday, Aug. 20, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
FORT WORTH, Texas — AmeriCredit announced it has extended its $500 million repurchase facility structured by Barclays Capital.
The company said it uses this facility to finance the repurchase of receivables from securitization transactions that have reached the 10-percent 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, officials highlighted.