CarMax Select 2026-B issues $600M in ABS notes across 7 classes; underwritten by Wells Fargo

CarMax Select Receivables Trust 2026-B

Trust issues $600M total notes (Class A-1 through E); offered notes aggregate $575.13M.
Underwriters commit to purchase $569.997M; closing expected June 16, 2026.
Proceeds used to acquire motor vehicle retail installment sale contracts from CarMax.
At least 5% of each note class retained by registrant to satisfy risk-retention rules.
CarMax Business Services will service the pool; Wells Fargo Securities leads underwriting.

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 Select Receivables Trust 2026-B entered into Underwriting Agreement with Wells Fargo Securities, LLC, as representative of the several underwriters named therein valued at $569,997,000 aggregate principal balance (effective 2026-06-09).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC, as representative of the several underwriters named therein
Value: $569,997,000 aggregate principal balance
Effective: 2026-06-09

Exact text from the filing

On June 9, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with Wells Fargo Securities, LLC, as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $569,997,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Select Receivables Trust 2026-B

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Source: SEC EDGAR

accession 0001193125-26-267424

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