Kar global commences offer to purchase certain of its outstanding 5.125% senior notes due 2025

Carmel, ind. , may 3, 2023 /prnewswire/ -- kar auction services, inc. (to be renamed openlane, inc.), d/b/a kar global (nyse: kar) (the "company"), today announced that it has commenced an offer to purchase for cash (the "asset disposition offer") up to $140,000,000 of its 5.125% senior notes due 2025 (the "notes"), with a portion of the net cash proceeds received from its previously announced sale of its us physical auction business to carvana.
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