CarMax trust issues $1.6B in 8 classes of asset-backed notes, due April 24

CARMAX AUTO FUNDING LLC

$1.6B aggregate principal: Class A-1 $309M, A-2a $410M, A-2b $125M, A-3 $535M, A-4 $88.8M, B $50.8M, C $48.4M, D $33.1M.
Underwriting agreement with MUFG Securities Americas Inc.; notes registered under Securities Act.
Proceeds to fund purchase of motor vehicle retail installment contracts originated by CarMax.
Transaction documents include Sale and Servicing Agreement, Receivables Purchase Agreement, Indenture, and related agreements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CARMAX AUTO FUNDING LLC entered into Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein valued at $1,600,000,000 aggregate principal balance (effective 2024-04-17).

Action: entry
Agreement: underwriting
Counterparty: MUFG Securities Americas Inc., as representative of the several underwriters named therein
Value: $1,600,000,000 aggregate principal balance
Effective: 2024-04-17

Exact text from the filing

On April 17, 2024, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $1,600,000,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Auto Owner Trust 2024-2

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Source: SEC EDGAR

accession 0001193125-24-102585

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