Carvana subsidiary clarifies $4B auto receivables purchase commitment with Ally

CARVANA CO.

Ally commitment to purchase up to $4.0B in auto finance receivables began Jan 13, 2023 and ends Jan 12, 2024.
No receivables sold before Jan 13, 2023 count against the $4.0B commitment amount.
Amendment involves Carvana Auto Receivables 2016-1 LLC as transferor and Ally Bank/Ally Financial as purchasers.

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. valued at up to $4.0 billion (effective 2023-01-20).

Action: amendment
Agreement: credit facility
Counterparty: Ally Bank and Ally Financial Inc.
Value: up to $4.0 billion
Effective: 2023-01-20

Exact text from the filing

On January 20, 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 clarify the Commitment Period of the Ally Parties' commitment to purchase up to $4.0 billion of automotive finance receivables.

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CARVANA CO. filing history →

Source: SEC EDGAR

accession 0001690820-23-000021

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