Carvana extends inventory credit line to $2.2B and adds $2B facility with Ally

CARVANA CO.

12-Month Floor Plan Facility extended to Sep 22, 2023, with $2.2B aggregate, including $200M from Deutsche Bank.
18-Month Floor Plan Facility for up to $2.0B, available after 12-month facility maturity, maturing Mar 22, 2024.
Interest rate is Prime Rate plus 100 bps; commitment fee and availability fee also apply.
Monthly principal reduction of 10% for vehicles on floorplan over 150 days until 50% of original principal.

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