Copart Inc.
Copart, Inc. Enters New Senior Revolving Credit Agreement
Summary
On January 23, 2026, Copart, Inc. entered into a new Senior Revolving Credit Agreement with a $1.25 billion credit facility, replacing its existing credit agreement dated December 21, 2021. The new agreement matures on January 23, 2031, and includes sub-facilities for foreign subsidiaries and a discretionary incremental facility. It is unsecured and governed by interest rates and fees based on the company's consolidated total net leverage ratio. Copart intends to use the proceeds for general corporate purposes.
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About Copart Inc.
Copart Inc. is a global leader in online vehicle auctions, providing a platform for buyers and sellers to auction and purchase vehicles of various types. The company's primary function is to facilitate the remarketing of vehicles including cars, trucks, SUVs, motorcycles, RVs, and more, often sourced from insurance companies, dealerships, and fleet operators. Copart's innovative model leverages technology to enhance the auction process, providing a fully digital marketplace accessible to a diverse range of participants worldwide. Notable features of Copart include its extensive inventory, real-time auction capabilities, and the availability of a mobile application that allows users to participate in auctions from anywhere. The company plays a significant role in the automotive and insurance industries, aiding in the efficient turnover of vehicles that are beyond repair, have been involved in accidents, or are simply surplus to requirements. With its extensive global footprint and integration of sophisticated data technology, Copart Inc. significantly impacts the vehicle remarketing and recycling sectors, providing a valuable service that helps streamline and modernize the auto auction industry.
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