Avis budget group announces pricing of $700 million of senior notes

Parsippany, n.j., sept. 10, 2024 (globe newswire) -- avis budget group, inc. (nasdaq: car) (the “company”) announced today that its wholly-owned subsidiaries, avis budget car rental, llc and avis budget finance, inc. (together, the “issuers”), priced a private offering of $700 million aggregate principal amount of 8.250% senior notes due 2030 (the “notes”), which represents a $200 million increase from the previously announced size of the offering. the notes will have a maturity date of january 15, 2030. the closing of the offering of the notes is expected to occur on september 13, 2024, subject to customary closing conditions. the notes will be issued at par and guaranteed on a senior unsecured basis by the company and certain of its u.s. subsidiaries.
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