Carvana extends exchange offers to May 3, boosts consideration for 2025 notes

CARVANA CO.

Extends expiration of exchange offers to May 3, 2023; withdrawal deadline already passed.
Increases exchange consideration for 2025 notes from $788.75 to $838.75 per $1,000 principal.
Early Exchange Premium of $20 per $1,000 available for tenders by new expiration.
Total consideration per $1,000: 2025 $858.75, 2030 $793.75, 2027 $658.75, 2028 $646.25, 2029 $632.50.
Aggregate principal capped at $1B of new 9%/12% Cash/PIK Toggle Senior Secured Second Lien Notes due 2028.

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