Carvana extends Ally financing facility to $4B through Jan 2024

CARVANA CO.

Amendment ups Ally commitment to $4.0 billion for purchasing automotive finance receivables.
Scheduled Commitment Termination Date extended to January 12, 2024.
Agreement amended to repurchase receivables upon breach of representations or warranty failures.
Transferor must provide legal opinions and good standing certificates within 20 days of effective date.

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

CARVANA CO. amended Second Amended and Restated Master Purchase and Sale Agreement with Ally Bank and Ally Financial Inc. (together, the "Ally Parties") valued at up to $4.0 billion (effective 2023-01-13).

Action: amendment
Agreement: credit facility
Counterparty: Ally Bank and Ally Financial Inc. (together, the "Ally Parties")
Value: up to $4.0 billion
Effective: 2023-01-13

Exact text from the filing

On January 13, 2023, a subsidiary of Carvana Co., Ally Bank, and Ally Financial Inc. (together, the "Ally Parties") amended the Second Amended and Restated Master Purchase and Sale Agreement (the “MPSA”) to, among other things, extend the Scheduled Commitment Termination Date to January 12, 2024 and establish a commitment by the Ally Parties to purchase up to $4.0 billion of automotive finance receivables.

View on SEC.gov

Browse all material agreements →

CARVANA CO. filing history →

Source: SEC EDGAR

accession 0001690820-23-000019

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.