CarMax completes private placement of $490 million in asset-backed notes
By APTuesday, July 14, 2009
CarMax wraps placement of $490 million in notes
RICHMOND, Va. — Automotive retailer CarMax Inc. said Tuesday that it has completed a private placement of $490 million of notes.
The CarMax Auto Owner Trust 2009 notes are backed by auto loan receivables originated by CarMax Auto Finance, the company said.
JPMorgan Securities Inc. acted as adviser on the offering.
CarMax shares rose 40 cents, or 2.9 percent, to $14.40 in afternoon trading.
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