CARVANA CO. (CVNA) Form 8-K — Aug 14, 2026
Carvana Co. entered into a Credit Agreement on August 14, 2026 providing for a $1.66 billion senior secured term loan B facility maturing on August 14, 2033, with Barclays Bank PLC serving as administrative agent. Net proceeds will be used to redeem in full the company's outstanding 9.0% / 11.0% / 13.0% Cash / PIK Senior Secured Notes due 2030, with $1.0 billion in principal fixed for redemption on August 15, 2026 and the remaining outstanding principal on August 22, 2026.
Key figures
- Debt Amount
- 1660000000
- Interest Rate
- Term SOFR + 2.25% (or base rate + 1.25%)
- Maturity Date
- August 14, 2033
- Issue price
- 99.75% of aggregate principal
- Repricing premium
- 1.00% for certain repricing transactions within six months of closing
- Financial covenant
- none
- First redemption date
- August 15, 2026
- Refinanced instrument
- 9.0% / 11.0% / 13.0% Cash / PIK Senior Secured Notes due 2030
- Excess cash flow sweep
- 50% beginning with the fiscal year ending December 31, 2028
- Quarterly amortization
- 0.25% of original principal, beginning with the second full fiscal quarter after closing
- Second redemption date
- August 22, 2026
- First redemption amount
- $1.0 billion of 2030 Secured Notes
Price after filing
Close on the filing date to close N calendar days later (from $75.59). Historical, not a forecast.
AI analysis
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