<a href="https://laohu8.com/S/ACVA">ACV Auctions Inc.</a> Expands Revolving Credit Facility to $250 Million, Extends Maturity to 2030 with JPMorgan Chase Amendment
ACV Auctions Inc. has announced an amendment to its existing Revolving Credit Agreement originally dated August 24, 2021. The amendment, effective June 26, 2025, notably increases the company's revolving credit facility from $160 million to $250 million and extends the maturity date to June 26, 2030. The agreement, involving lenders and JPMorgan Chase Bank as the administrative agent, also introduces a new maximum Total Net Leverage Ratio covenant effective by June 30, 2027. Additionally, the amendment provides more favorable loan pricing post the Covenant Conversion Date and modifies various financial covenants. The amendment further requires Indiana Auto Auction LLC and ACV Capital LLC to guarantee the debt, secured by their assets.
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