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CarMax wraps placement of $490 million in notes

Tue Jul 14, 2009 1:30 PM EDT
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Associated Press
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RICHMOND — Automotive retailer CarMax Inc. said Tuesday that it has completed a private placement of $490 million of notes.

The CarMax Auto Owner Trust 2009 notes are backed by auto loan receivables originated by CarMax Auto Finance, the company said.

JPMorgan Securities Inc. acted as adviser on the offering.

CarMax shares rose 40 cents, or 2.9 percent, to $14.40 in afternoon trading.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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