They closed up 40% to $55.80 a share, shy of the stock's 52-week high of $58.05 from August 2022. "This transaction significantly increases our financial flexibility by reducing our total debt, extending maturities, and lowering near-term cash interest expense as we continue to execute our plan of driving significant profitability and returning to growth," Carvana CFO Mark Jenkins said in a statement. Carvana said its restructuring agreement covered roughly $5.2 billion of senior, unsecured bonds and included Apollo Global Management, its largest bondholder.