KMX - CarMax Reacts Swiftly After Earnings Miss With $1.25B Bond Sale: Report | Benzinga
CarMax Inc (NYSE:KMX) has reportedly initiated marketing for a $1.25 billion bond sale shortly after falling short of analysts’ predictions in fourth-quarter earnings.
The auto retailer intends to sell the debt through an asset-backed securities offering that might increase to $1.6 billion, according to a report from Bloomberg.
Mitsubishi UFJ Financial Group is organizing the deal, expected to be formally announced next week, the report added.
CarMax shares ...