Dollar Thrifty Automotive launches $785 million credit facility

By Sara Rosenberg

New York, Feb. 26 - Dollar Thrifty Automotive Group Inc. held a bank meeting on Thursday for a proposed $785 million credit facility, according to a syndicate document.

The facility consists of a $485 million 364-day revolver with an interest rate of Libor plus 125 basis points and a 25 basis points commitment fee and a $300 million five-year revolver with an interest rate of Libor plus 200 basis points and a 37.5 basis points commitment fee, according to the document.

Credit Suisse First Boston and JPMorgan are the joint lead arrangers and joint bookrunners on the 364-day revolver, while Credit Suisse First Boston and Bank of Nova Scotia are the joint lead arrangers and joint bookrunners on the five-year revolver.

Dollar Thrifty is a Tulsa, Okla., vehicle rental company.

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