Carvana issues $3.275B senior notes and completes $2.2B acquisition of ADESA U.S. physical auction business

CARVANA CO.

Issued $3.275 billion of 10.2500% Senior Notes due 2030 under indenture with U.S. Bank Trust as trustee.
Completed $2.2 billion cash acquisition of ADESA U.S. physical auction business on May 9, 2022.
Notes accrue interest at 10.25% per annum, payable semi-annually, maturing May 1, 2030.
Escrowed note proceeds released to fund ADESA acquisition and for general corporate purposes.
Added ADESA Guarantors to indentures for 2025, 2027, 2028, 2029, and 2030 senior notes.

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