Avis Budget Group Inc.
Avis Budget Group Issues $600 Million Senior Notes
Summary
On May 19, 2025, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., wholly-owned subsidiaries of Avis Budget Group, Inc., issued $600 million aggregate principal amount of 8.375% Senior Notes due 2032. The proceeds will be used for general corporate purposes, including debt repayment and fees. The Notes bear interest at 8.375% per annum, payable semi-annually, and are guaranteed by the Company and its subsidiaries. The Indenture governing the Notes includes various financial covenants and events of default.
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Exhibits (1)
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About Avis Budget Group Inc.
Avis Budget Group Inc. is a prominent provider in the vehicle rental and car sharing industry, operating through its well-recognized brands including Avis, Budget, and Zipcar. Its primary function is to offer vehicle leasing services to a variety of customer segments, ranging from individual travelers to large corporate clients. Avis Budget Group significantly impacts the travel and tourism sector, providing essential rental solutions that enhance mobility and convenience for consumers globally. Headquartered in Parsippany, New Jersey, the company maintains a strong presence in over 180 countries, leveraging a comprehensive network that includes on-airport and off-airport locations. Avis Budget Group plays a critical role in the mobility industry, utilizing technology and innovation to streamline the rental experience, such as through mobile app interfaces and automated service offerings. Its strategic position in fleet management and vehicle sales further underscores its importance in the broader transportation market.
Official SEC Documents
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