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AmeriCredit Corp. Expands Credit Facilities to More than $1 Billion

2 July 1999

AmeriCredit Corp. Expands Credit Facilities to More than $1 Billion

    FORT WORTH, Texas--July 1, 1999--AmeriCredit Corp. announced today that it has expanded the size of its structured warehouse facility with Credit Suisse First Boston as funding agent with the inclusion of two additional financial institutions.
    Borrowings available under this facility, which matures March 2000, have been increased to $375 million from $150 million.
    AmeriCredit also has a $505 million structured warehouse facility with The Chase Manhattan Bank as funding agent, a $115 million credit agreement led by Wells Fargo Bank and a C$20 million credit agreement for its Canadian operations provided by ScotiaBank.
    The Company's credit facilities are used to finance the purchase of automobile receivables prior to securitization. With the closing of the expanded $375 million facility, AmeriCredit has warehouse capacity totaling more than $1 billion.
    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 http://www.americredit.com that contains further information on the Company.