CarMax Select Receivables Trust 2026-C filed a Form 8-K on September 22, 2026, announcing the execution of an Underwriting Agreement with J.P. Morgan Securities LLC. Under this agreement, the underwriters have agreed to purchase an aggregate principal balance of $600,000,000 of Asset-backed Notes to be issued by the Trust. The sale of these notes is registered under the Securities Act of 1933 via a Registration Statement on Form SF-3 (Commission File No. 333-288943) filed on July 25, 2025.
The offering includes a total of 11 classes of notes, with specific principal amounts for the public classes as follows: $99,400,000 for Class A-1 Notes, $203,400,000 for Class A-2 Notes, $153,380,000 for Class A-3 Notes, $32,470,000 for Class B Notes, $54,130,000 for Class C Notes, and $45,460,000 for Class D Notes. These public classes are referred to as the Offered Notes. Additionally, the Trust is issuing $11,760,000 in Class E Notes, which are not being publicly offered.
The Issuance Date for the notes is anticipated to be on or about September 28, 2026. On this date, the Trust will enter into an Amended and Restated Trust Agreement with Wilmington Trust, National Association, as Owner Trustee. The transaction structure involves the transfer of motor vehicle retail installment sale contracts and related property from CarMax Business Services, the servicer, to the Depositor, and subsequently to the Trust and a related Grantor Trust.
