Dec. 9 at 3:58 AM
$PDI $PDO $PCN Just a reminder of how good PIMCO is. All these funds benefit.
“PIMCO, along with Apollo Global Management, acted as major creditors for Carvana, signing a key pact in late 2022 to cooperate in debt negotiations as Carvana faced bankruptcy fears due to massive debt. This alliance, representing about 70% of Carvana's unsecured debt, paved the way for a major 2023 restructuring deal that reduced Carvana's debt by over
$1 billion, lowered interest costs, and extended maturity dates, ultimately helping stabilize the company and boost investor confidence.”
And today: “Carvana (CVNA) stock surged 12% Monday after the online car retailer was tapped to join the S&P 500 (^GSPC), marking a dramatic turnaround for the once heavily shorted company. On Monday, shares surged to a high of nearly
$448 ahead of their inclusion in the broad-based index.”
