Financing ·
Navan secures $225M revolving warehouse credit facility to finance corporate charge card receivables
NAVNNavan, Inc.
Navan Travel US SPV LLC, a wholly owned subsidiary of Navan, Inc., entered into a Revolving Credit and Security Agreement providing a $225 million revolving warehouse credit facility. The facility finances the purchase of Navan's corporate charge card receivables, which serve as collateral. No advances have been made as of the filing date. Concurrently, subsidiary Liquid Labs SPV LLC amended existing agreements to prepay all outstanding Class B advances and reduce the committed amount without terminating Class A commitments. Navan operates in the travel management and expense technology industry.