Davis Polk advised the sole representative of the initial purchasers on a Rule 144A/Regulation S debt offering by Carvana Co. of $350 million aggregate principal amount of its 8.875% senior notes due 2023.

Based in Tempe, Arizona, Carvana Co. is an e-commerce platform for buying used cars that operates in 65 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 associates Dylan Service and Stephanie Y. Cheng. Partner Rachel D. Kleinberg provided tax advice. Associate Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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