UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 7, 2009
CARMAX, INC.
(Exact name of registrant as specified in its charter)
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Virginia
(State or other jurisdiction
of incorporation) |
1-31420
(Commission File Number) |
54-1821055
(I.R.S. Employer
Identification No.) |
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12800 Tuckahoe Creek Parkway
Richmond, Virginia
(Address of principal executive offices) |
23238
(Zip Code) |
Registrant’s telephone number, including area code: (804) 747-0422
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On August 7, 2009, CarMax, Inc. renewed its warehouse facility for another 364 day term. The facility limit was reduced to $1.2 billion from $1.4 billion. As of August 7, 2009, unused warehouse capacity totaled $768 million. The funding cost spread in the renewed warehouse facility is higher than the spread
in the previous facility but favorable to the estimated spread used in the calculation of the gain on loans originated and sold for the quarter ended May 31, 2009. The warehouse facility is used to securitize auto loan receivables originated by CarMax Auto Finance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CARMAX, INC. |
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(Registrant) |
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Dated: August 7, 2009 |
By: /s/ Keith D. Browning |
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Keith D. Browning |
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Executive Vice President, |
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and Chief Financial Officer |