---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-23-000243"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T13:59:49.074923+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Carvana launches $4.275B exchange offer for unsecured notes, $425M cash tender for 2025 notes

## Summary
- Exchange offers for 2027/2028/2029/2030 notes into up to $4.275B of new secured notes (three tranches with PIK/cash interest).
- Cash tender for any/all 2025 notes at 85% of par ($850/$1,000) for up to $425M.
- Consent solicitations seek to eliminate substantially all restrictive covenants and certain events of default.
- Over 90% of noteholders have committed to participate in the transaction.
- New secured notes secured by second-priority liens on Ally collateral and first-priority liens on other assets.

## SEC filing metadata
- accession: 0001690820-23-000243
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000243/0001690820-23-000243-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000243/cvna-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-23-000243
- JSON: https://secwatch.observer/filing/0001690820-23-000243.json
- Plain text: https://secwatch.observer/filing/0001690820-23-000243.txt

## Key facts
- Material Agreements
  CARVANA CO. amended First Amendment to the Transaction Support Agreement with certain of the TSA Parties (effective 2023-08-01).
  - Action: amendment
  - Agreement: settlement
  - Counterparty: certain of the TSA Parties
  - Effective: 2023-08-01
  source text: On August 1, 2023, the Company and Carvana Group entered into the First Amendment to the Transaction Support Agreement (the “Amendment”) with certain of the TSA Parties
  evidence_url: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000243/0001690820-23-000243-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.