Copart signs $1.25 billion revolving credit facility, repaying its prior credit agreement
On January 23, 2026, Copart entered an unsecured senior revolving credit agreement with Wells Fargo Bank as administrative agent, providing a $1.25 billion facility that matures January 23, 2031. Concurrently, Copart terminated the commitments and repaid all amounts outstanding under its December 21, 2021 credit agreement with Bank of America. Copart says it intends to use the proceeds for general corporate purposes, including working capital, capital expenditures, dividends, and potential share repurchases, acquisitions, or other investments.
Key points
- Facility totals $1,250.0 million, including up to $550.0 million equivalent in Pounds Sterling, Euro and Canadian Dollars, plus a discretionary incremental facility of up to $500.0 million.
- Interest is priced at a fixed-rate spread of 0.75% to 1.125% or a daily rate plus 0.0% to 0.125%, depending on Copart's consolidated total net leverage ratio; unused commitments carry a fee of 0.05% to 0.125%.
- Sub-facilities include $150.0 million equivalent each for CPRT GmbH and Copart Autos España, S.L.U., and $250.0 million equivalent for Copart UK Limited.
- The agreement replaces the existing Bank of America-agented credit agreement dated December 21, 2021, which was repaid and terminated.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 26, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.