CarMax Unit Borrows $500 Million of Term Loans

MT Newswires Live

06/17

CarMax (KMX) said Wednesday CarMax Auto Superstores borrowed $500 million in term loans under a credit agreement with MUFG Bank.

The term loan facility will mature June 15, 2029, according to a regulatory filing.

The company used the proceeds to pay down normal course borrowings under its $2 billion unsecured revolving credit facility and for other working capital and general corporate purposes.

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