Avis Budget Group Inc.
Avis Budget Group Refinances $1.15 Billion Term Loans
Summary
On July 16, 2025, Avis Budget Group, Inc. entered into the Tenth Amendment to the Sixth Amended and Restated Credit Agreement, refinancing its existing $1.15 billion tranche B term loans with new term loans maturing on July 16, 2032, bearing an interest rate of the secured overnight financing rate plus a margin of 2.50% or an alternate base rate plus a margin of 1.50%. The refinancing also includes a premium for early repayment.
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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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