Carvana prices $1.66 billion senior secured term loan B facility - CVNA News | RalliesCarvana prices $1.66 billion senior secured term loan B facility
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CVNA• Carvana prices new term loan to refinance notes
- Carvana priced a USD 1.66 billion Senior Secured Term Loan B Facility to refinance its 9% Senior Secured Notes due 2030.
- Proceeds, together with cash on hand, will redeem the notes in full.
- The Term Loan B was priced at one-month Term SOFR + 225 basis points, issued at 99.75% of principal.
- The facility matures seven years from closing, extending maturities while cutting cash interest by about USD 45 million annually.
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