Carvana To Raise $2.3B Via Debt To Finance ADESA Acquisition


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  • Carvana Co (NYSE:CVNA) plans to offer $2.275 billion of Senior Unsecured Notes due 2030.
  • The company intends to use the proceeds to finance the proposed acquisition of the U.S. physical auction business of ADESA Inc from KAR Auction Services (NYSE:KAR) for about $2.2 billion.
  • ADESA U.S. is a provider of wholesale vehicle auction solutions in the U.S. with 56 sites and approximately 4,500 corporate and operations team members. 
  • Price Action: CVNA shares are trading lower by 6.52% at $78.25 on Monday's last check.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: NewsOfferingsSmall CapBriefs