Avis budget group announces leverage covenant waiver under existing credit facility

Parsippany, n.j., april 27, 2020 (globe newswire) -- avis budget group, inc. (nasdaq: car) today announced that the company has obtained a waiver of the leverage covenant included in its existing senior credit facilities, comprised of a term loan and revolving credit facility, until june 30, 2021. the waiver is included in an amendment to the credit facilities, which allows the company to incur an additional $750 million of first lien debt.
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