Benzinga | Aug 13, 2021 09:16AM EDT

Carvana Raised $750M Via Institutional Offering Of Senior Notes

* E-commerce platform for buying and selling used cars, Carvana Co (NYSE:CVNA), priced 750 million 4.875% senior notes due 2029 in a private institutional placement.

* The offering proceeds will serve general corporate purposes.

* The notes will accrue interest at 4.875% annually, payable semi-annually on Mar. 1 and Sep. 1, beginning on Mar. 1.

* Carvana held $2.3 billion in long-term debt as of Jun. 30.

* The stock has gained 49.5% year-to-date.

* Price Action: CVNA shares closed lower by 0.71% at $358.15 on Thursday.