Davis Polk advised the initial purchasers on a Rule 144A/Regulation S debt offering by Carvana Co. of $250 million aggregate principal amount of its 8.875% senior notes due 2023.

Davis Polk also advised the joint book-running managers in connection with the $273 million public offering of 4,200,000 shares of Class A common stock of Carvana Co. The Class A common stock is listed on the New York Stock Exchange under the symbol “CVNA.”

Based in Tempe, Arizona, Carvana Co. is an e-commerce platform for buying used cars that operates in 109 markets across the country. Carvana Co. provides a platform where consumers can research and identify a vehicle, inspect it, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up.

The Davis Polk capital markets team included partner Alan F. Denenberg, counsel Jeffrey Gould and associate Dylan Service. Partner Rachel D. Kleinberg provided tax advice. Associate Michael V. Policastro provided intellectual property and technology advice. Associate Matthew R. Silver provided 1940 Act advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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