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Avis Budget to pay down term loan C with notes proceeds
By Sara Rosenberg
New York, Nov. 15 – Avis Budget Group Inc. plans to repay a portion of its floating-rate term loan C due 2029 using proceeds from a $500 million senior notes offering, according to a market source.
The notes will also be used to redeem 4˝% senior notes due 2025, to pay related fees and expenses, and for general corporate purposes.
Avis is a Parsippany, N.J.-based provider of vehicle rental services.
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