FORT WORTH, Texas--(BUSINESS WIRE)--June 18, 2007--AMERICREDIT
CORP. (NYSE: ACF) announced today its intention to offer privately,
subject to market and other conditions, $200 million aggregate
principal amount of senior notes to certain qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended.
AmeriCredit plans to use the net proceeds from the offering of the
notes for general corporate purposes, potentially including the
repayment of its 1.75% convertible senior notes due in 2023, which are
first callable in November 2008.
This notice does not constitute an offer to sell or a solicitation
of an offer to buy securities. Any offers of the securities will be
made only by means of a private offering circular. The notes have not
been registered under the Securities Act of 1933, as amended, or the
securities laws of any other jurisdiction and may not be offered or
sold absent registration or an applicable exemption from registration
requirements.
About AmeriCredit
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
www.americredit.com.
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.
CONTACT: AmeriCredit Corp.
Investor Relations:
Caitlin DeYoung, 817-302-7394
or
Media Relations:
John Hoffmann, 817-302-7627
SOURCE: AmeriCredit Corp.
