CarMax closes $750M asset-backed note issuance via CarMax Select Receivables Trust 2026-A

CARMAX AUTO FUNDING LLC

Total $750M in notes issued; classes include $143M A-1, $272.8M A-2a, $45M A-2b, $107.3M A-3, $46.5M B, $65.8M C, $53.5M D.
Closing expected on or about February 25, 2026; underwriting agreement with Barclays Capital as representative.
CarMax Business Services will service the underlying auto loan receivables.
Notes registered under existing SF-3 shelf registration (filed July 2025).
Private placement of $16.2M Class E notes not included in public offering.

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 Barclays Capital Inc., as representative of the several underwriters named therein valued at $750,000,000 aggregate principal balance (effective 2026-02-18).

Action: entry
Agreement: underwriting
Counterparty: Barclays Capital Inc., as representative of the several underwriters named therein
Value: $750,000,000 aggregate principal balance
Effective: 2026-02-18

Exact text from the filing

On February 18, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with Barclays Capital Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $750,000,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Select Receivables Trust 2026-A (the “Issuing Entity”)

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Source: SEC EDGAR

accession 0001193125-26-061053

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