Carvana Co. (CVNA) Announces Agreement With Noteholders That Will Provide The Company Significant Flexibility
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Carvana Announces Agreement With Noteholders That Will Provide The Company Significant Flexibility as It Continues to Execute Its Profitability and Growth Plan by Reducing Total Debt, Extending Matu
July 19, 2023 6:31 AM EDTÂ Agreement to eliminate more than 83% of Carvanas 2025 and 2027 unsecured note maturities and lower required cash interest expense by over $430 million per year for the next two years. Agreement to reduce Carvanas total debt outstanding by over $1.2 billion. New notes offered in the exchange are secured by Carvana and ADESA assets. Exchange will launch with support from Noteholders representing over 90% (~$5.2 billion) of Carvanas senior unsecured notes.
PHOENIX--(BUSINESS WIRE)-- Carvana Co. (Carvana or the Company), the fastest growing used car dealer in U.S. history, today... More
