Copart raises revolver to $1.25 billion, extends to 2026

By Rebecca Melvin

Concord, N.H., Dec. 29 – Copart, Inc. entered into a second amended and restated credit agreement on Dec. 21 that upsized its secured revolving credit commitments by $200 million for total commitments of $1.25 billion, according to an 8-K filing with the Securities and Exchange Commission.

The revolver was extended to Dec. 21, 2026 from July 21, 2023.

Pricing is SOFR plus 100 basis points to 175 bps based on leverage. The commitment fee ranges from 17.5 bps to 27.5 bps.

Bank of America, NA is the administrative agent. Wells Fargo Bank, NA is the syndication agent, and Bank of Montreal and JPMorgan Chase Bank NA are the documentation agents.

BofA Securities, Inc. and Wells Fargo Securities, LLC are joint lead arrangers and joint bookrunners.

Copart is a Dallas-based provider of online auctions and vehicle remarketing services.

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