Carvana enters $1.66 billion term loan to repay 2030 secured notes
Carvana entered a $1.66 billion senior secured term loan B credit agreement on August 14, 2026, maturing in 2033. The company said the proceeds are expected to redeem or refinance its 2030 Secured Notes, with $1.0 billion redeemed on August 15, 2026 and the remainder on August 22, 2026.
Key points
- Term loan B facility of $1.66 billion matures August 14, 2033, issued at 99.75% of principal.
- Interest is Term SOFR plus 2.25% or base rate plus 1.25%, per the credit agreement.
- Proceeds expected to redeem 2030 Secured Notes: $1.0 billion on August 15, 2026 and the remainder on August 22, 2026.
- The credit agreement has no financial covenant and requires 50% excess cash flow prepayments starting fiscal 2028, subject to reductions.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 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 August 14, 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.