CarMax, Inc. and its subsidiary, CarMax Auto Superstores, Inc., entered into a $500,000,000 term loan credit agreement with MUFG Bank, Ltd. on June 15, 2026. The facility matures on June 15, 2029, and proceeds were utilized to pay down borrowings under a $2.0 billion unsecured revolving credit facility and for general corporate purposes. The agreement includes a consolidated net leverage ratio covenant of 3.75 to 1.00 and a consolidated interest and rent coverage ratio of at least 2.00 to 1.00. Interest rates are based on Daily SOFR or a Base Rate plus an applicable margin. CarMax, Inc. is an automotive retailer.
