---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-21-000182"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2021-10-18T23:59:59+00:00"
generated_at: "2026-06-28T20:12:55.445041+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# CarMax enters $700M term loan due 2026 to repay revolver borrowings

## Summary
- Borrowed $700M under term loan facility maturing October 15, 2026.
- Proceeds used to pay down normal-course borrowings under $1.45B revolver and for general corporate purposes.
- Interest based on Eurodollar Reference Rate (LIBOR or successor) plus applicable margin, payable monthly.
- Obligations guaranteed by CarMax Inc. and certain subsidiaries.
- Company targets adjusted debt-to-total capital ratio of 35% to 45%.

## SEC filing metadata
- accession: 0001170010-21-000182
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2021-10-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1170010/000117001021000182/0001170010-21-000182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001021000182/kmx-20211015.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-21-000182
- JSON: https://secwatch.observer/filing/0001170010-21-000182.json
- Plain text: https://secwatch.observer/filing/0001170010-21-000182.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.