Carvana Co. Reports Entry into $1.66 Billion Senior Secured Term Loan B Facility
Summary
On August 14, 2026, Carvana Co. entered into a Credit Agreement with Barclays Bank PLC, as administrative agent, for a $1.66 billion senior secured term loan B facility maturing on August 14, 2033 (via Ex. 10.1). The net proceeds are primarily intended to redeem or refinance the Company's outstanding 9.0% / 11.0% / 13.0% Cash / PIK Senior Secured Notes due 2030. The 2030 Secured Notes will be redeemed in two tranches on August 15, 2026 ($1.0 billion) and August 22, 2026 (remaining principal). The Term Loan B Facility has an issue price of 99.75% and bears interest at Term SOFR + 2.25% or a base rate + 1.25%.
Why It Matters
This new $1.66 billion senior secured term loan B facility, maturing in 2033, is material as it refinances the Company's existing 9.0% / 11.0% / 13.0% Cash / PIK Senior Secured Notes due 2030, potentially impacting future interest expenses and debt maturity profile.
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Key Quote
“The Credit Agreement provides for a $1.66 billion senior secured term loan B facility maturing on August 14, 2033 (the "Term Loan B Facility").”
— From Item 1.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001690820
- Filing Date
- Friday, August 14, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- neutral