AmeriCredit Corp. has expanded and exteded its warehouse credit facility. The borrowing capacity available under the facility increased to $1.3 billion from $1 billion.
The facility now includes commitments from eight lenders. The revolving period of this facility matures in February 2011.
AmeriCredit utilizes warehouse credit facilities for short-term financing of its receivables until it permanently finances the receivables through securitization transactions.
The auto company has around 900,000 customers and $9 billion in auto receivables.