Avis Budget Group Inc.
Avis Budget Group Subsidiaries Issue $700 Million Senior Notes
Summary
On September 13, 2024, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., subsidiaries of Avis Budget Group, Inc., issued $700 million aggregate principal amount of 8.250% Senior Notes due 2030. The net proceeds will be used for general corporate purposes, including debt repayment and fees. The Notes will mature on January 15, 2030, with interest payable semi-annually starting January 15, 2025. The Notes are guaranteed by the Company and its subsidiaries. The Issuers have the option to redeem the Notes under certain conditions.
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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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