The high-yield notes are due 2030

Davis Polk advised the representative of the initial purchasers on a Rule 144A / Regulation S debt offering by Carvana Co. of $3.275 billion aggregate principal amount of its 10.250% senior notes due 2030.

Based in Tempe, Arizona, Carvana Co. is a leading e-commerce platform for buying and selling used cars.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jeffrey Gould and associate Jonathan Bye. The tax team included partner Mario J. Verdolini and associate Bradford Sherman. Partner Vanessa L. Jackson and associate Christopher Nairn-Kim provided finance advice. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associates Yana Kipnis and S. Dream Montgomery. Members of the Davis Polk team are based in the Northern California and New York offices.