RICHMOND, VA – CarMax, Inc. has closed a new revolving credit facility providing for aggregate borrowings of up to $450 million. The new facility has a four- year term and is secured by the company's vehicle inventory. Bank of America N.A. is the administrative agent and Banc of America Securities LLC acted as the lead arranger for the new facility, which replaces a $300 million term loan and revolving credit facility that was scheduled to expire in May 2006.
See all comments