Benzinga | Mar 25, 2021 09:30AM EDT

Carvana Seeks To Raise $500M Via Senior Notes

* eCommerce platform for buying and selling used cars Carvana Co (NYSE: CVNA) announced its plans to offer up to $500 million in Senior Notes due 2027.

* Carvana would use the offering proceeds for general corporate purposes.

* The company held cash and cash equivalents of $329 million as of December 31, 2020.

* CVNA's stock has gained 394% in the last year.

* Price action: CVNA share prices traded lower by 1.52% at $249 in the premarket session on the last check Thursday.