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

  • Carvana Co 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 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.
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