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Avis Budget to price €400 million senior notes due 2029
By Marisa Wong
Los Angeles, Feb. 20 – Avis Budget Group, Inc. announced that its wholly owned subsidiary, Avis Budget Finance plc, plans to offer €400 million of senior notes due 2029 (B1) in a private offering.
The Rule 144A and Regulation S notes will be guaranteed by Avis Budget Group and some of its U.S. subsidiaries, according to a press release.
The company intends to use the proceeds from the new notes to redeem all of its outstanding 4¾% senior notes due 2026, with the remainder to be used for general corporate purposes, which may include repayment of other debt.
The car rental company is based in Parsippany, N.J.
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