Carvana Co. entered into a $1.66 billion senior secured Term Loan B facility with Barclays Bank PLC as administrative agent on August 14, 2026. The loan matures on August 14, 2033, bears interest at Term SOFR plus 2.25% or a base rate plus 1.25%, and amortizes quarterly at 0.25% of the original principal amount starting in the second full fiscal quarter after closing. Net proceeds will primarily redeem $1.66 billion aggregate principal of the Company's outstanding 9.0%/11.0%/13.0% Cash/PIK Senior Secured Notes due 2030, with redemptions scheduled for August 15 and August 22, 2026. The facility includes incremental borrowing options, prepayment rights without penalty (subject to a 1% premium within six months), and mandatory prepayments from excess cash flow starting in fiscal year 2028. Carvana Co. operates in the automotive retail industry, selling used cars primarily through its online platform.

Carvana Co. reported financial results for the fiscal quarter ended June 30, 2026, announcing record quarterly performance with retail unit sales of 197,325, a 38% year-over-year increase. Revenue totaled $7.376 billion, up 52%, while net income reached $513 million and adjusted EBITDA was $769 million. The company provided full-year 2026 guidance for adjusted EBITDA between $2.7 billion and $3.0 billion. Carvana operates in the automotive retail industry as an e-commerce platform for buying and selling used vehicles.