Carvana Announces Agreement With Noteholders That Will Eliminate Over 83% Of 2025 And 2027 Unsecured Note Maturities And Lower Required Cash Interest Expense By Over $430M Per Year For Next Two Years
Portfolio Pulse from Benzinga Newsdesk
Carvana has reached an agreement with noteholders that will eliminate over 83% of 2025 and 2027 unsecured note maturities. This will lower the required cash interest expense by over $430M per year for the next two years.
July 19, 2023 | 10:35 am
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Carvana's agreement with noteholders will significantly reduce its future liabilities and cash interest expenses, potentially improving its financial health.
The agreement will eliminate a significant portion of Carvana's future liabilities, specifically 83% of 2025 and 2027 unsecured note maturities. This will also reduce the company's cash interest expense by over $430M per year for the next two years, which could improve its financial health and potentially its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100