Thu 07/20/2023 14:25 PM
Relevant Items:
Link to Excel Model
July 19 Press Release
July 19 8-K
Online used car dealer Carvana’s proposed debt exchange would push its earliest meaningful bond maturity to 2028 from 2025, preserve over $900 million of liquidity via PIK interest on the new bonds over the next two years, assuming full participation, and enable potential deleveraging through “favorable” prepayment terms on the new bonds, according to management.
The deal gives Carvana more time to grow into...
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