Copart enters $1.25B senior revolving credit facility, replacing existing agreement

COPART INC

$1.25B revolving credit facility matures Jan 23, 2031; extendable up to two times for one year each.
Unsecured; interest based on SOFR + 0.75%-1.125% or base rate + 0%-0.125%, depending on leverage.
Includes $550M multicurrency sub-facility (Sterling, Euro, CAN) and a $500M discretionary incremental facility.
$100M swingline and $100M letter of credit sublimits; proceeds for general corporate purposes, dividends, share buybacks, M&A.
Replaces $1.0B facility with Bank of America; all amounts repaid and commitments terminated.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

COPART INC incurred revolving credit of $1,250.0 million with Wells Fargo Bank, National Association at either (1) the applicable fixed rate plus 0.75% to 1.125% or (2) the daily rate maturing January 23, 2031.

Instrument: revolving credit
Principal: $1,250.0 million
Counterparty: Wells Fargo Bank, National Association
Rate: either (1) the applicable fixed rate plus 0.75% to 1.125% or (2) the daily rate
Maturity: January 23, 2031
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a $1,250.0 million revolving credit facility maturing on January 23, 2031

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

COPART INC entered into Credit Agreement with Wells Fargo Bank, National Association, as administrative agent valued at $1,250.0 million revolving credit facility (effective 2026-01-23).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Value: $1,250.0 million revolving credit facility
Effective: 2026-01-23

Exact text from the filing

On January 23, 2026, Copart, Inc. (“ Copart ”) entered into a Senior Revolving Credit Agreement (the “ Credit Agreement ”) by and among Copart, certain subsidiaries of Copart party thereto, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent.

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

COPART INC terminated Existing Credit Agreement with Bank of America, N.A., as the administrative agent (effective 2026-01-23).

Action: termination
Agreement: credit facility
Counterparty: Bank of America, N.A., as the administrative agent
Effective: 2026-01-23

Exact text from the filing

Concurrently with entry into the Credit Agreement, Copart terminated all available commitments and repaid all amounts outstanding under that certain Second Amended and Restated Credit Agreement, dated as of December 21, 2021, by and among the Copart, the designated borrowers from time to time party thereto, the guarantors from time to time party thereto, the lenders party from time to time thereto and Bank of America, N.A., as the administrative agent (the “ Existing Credit Agreement ”).

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306 debt financings filed in the last 30 days. Browse all debt financings →

COPART INC filing history →

Source: SEC EDGAR

accession 0001193125-26-022730

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