Onyx Issues $12 Million in Unsecured Notes

Auto lender Onyx Acceptance Corp. said it has issued $12 million in unsecured, subordinated notes. The Foothill Ranch company said it would use the proceeds to pay down an existing credit line and for general corporate purposes. Miller & Schroeder Financial Inc. and Peacock, Hislop, Staley & Given Inc. underwrote the transaction.