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Avis Budget shops amendment to shift term loan debt to SOFR
By Sara Rosenberg
New York, March 22 – Avis Budget Group Inc. is seeking a negative consent amendment to transition its term loan debt to SOFR from Libor and add 10 basis points CSA, according to a market source.
JPMorgan Chase Bank is the lead on the deal.
The amendment deadline is end of day on Tuesday, the source added.
Avis is a Parsippany, N.J.-based provider of vehicle rental services.
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