Navan closes $225M warehouse credit facility with Barclays; Liquid Labs prepays Class B advances

Navan, Inc.

Navan Travel US SPV LLC, a bankruptcy-remote unit, entered an Oct 5, 2026 revolving warehouse facility of up to $225,000,000 agented by Barclays Bank PLC; no advances drawn yet.
Facility funds purchases of Navan's corporate charge card receivables, which serve as collateral under a first-priority security interest; 24-month revolving period plus 3-month amortization.
Pricing: commercial paper conduit cost or one-month adjusted Term SOFR plus 1.40% Class A margin; +1.00% after revolving period, +2.00% on early amortization; default Base Rate +6.50%.
Omnibus Amendment to the 2022 Goldman Sachs facility lets Liquid Labs prepay all outstanding Class B advances, including prepayment premium, and cut the Class B commitment.

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