CarMax plans to raise $1.25-$1.6bn in a bond sale after missing Q4 earnings estimates.

CarMax plans to raise $1.25 billion in a bond sale after missing analysts' estimates in its Q4 earnings. The auto retailer may increase the sale to $1.6bn, with Mitsubishi UFJ Financial Group structuring the deal. Shares fell after CarMax reported profits below expectations, blaming "vehicle affordability challenges" due to inflationary pressures, higher interest rates, and low consumer confidence.

April 11, 2024
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