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Latham & Watkins Advises on US$550 Million Financing for OPENLANE, Inc.
October 10, 2025
Banking team represents the financing sources in the financing for the operator of digital marketplaces for wholesale used vehicles.
OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has announced it has closed its repurchase of 53% of the Company’s Series A Convertible Preferred Stock and amended its existing Credit Agreement with an additional US$550 million in secured term loans to finance the repurchases.
Latham & Watkins LLP represented the financing sources in the amended credit facility with a banking team led by partner Michael Waldman, with associates Julia Albrecht, Sean Travers, and Eric Raff.