Carvana, Once a Market Darling, Forced to Turn to Apollo for Cash

Carvana, Once a Market Darling, Forced to Turn to Apollo for Cash

Carvana Co. CVNA -2.08% ‘s financial troubles spilled over into debt markets this week when the online used-car dealer struggled to sell bonds and was forced to turn to Apollo Global Management Inc. APO 2.73% for $1.6 billion to salvage the deal. The giant investment firm agreed to purchase about half of $3.275 billion of …

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