Carvana enters $1.66 billion senior secured term loan B credit agreement with Barclays agent
CVNA•Carvana enters new $1.66 billion term loan facility
Carvana entered a Credit Agreement for a $1.66 billion senior secured term loan B facility maturing Aug. 14, 2033.
- Proceeds are earmarked to refinance its 9.0%/11.0%/13.0% Cash/PIK Senior Secured Notes due 2030.
- $1 billion of the 2030 Secured Notes is set for redemption on Aug. 15, 2026; the remaining balance is set for Aug. 22, 2026.
- The term loan was priced at 99.75% with interest at Term SOFR + 2.25% or base rate + 1.25%.
- The facility includes 0.25% quarterly amortization with prepayment flexibility, including a 1% repricing premium within six months.
