Avis budget group announces pricing of $500 million of senior notes

Parsippany, n.j., march 09, 2021 (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 an offering of $500 million aggregate principal amount of 4.75% senior notes due 2028 (the “notes”) in a private offering, which represents a $150 million increase from the previously announced size of the offering. the notes will have a maturity date of april 1, 2028. the closing of the offering of the notes is expected to occur on march 23, 2021, 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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