Avis Budget Group Inc.
Avis Budget Group Enters into Ninth Amendment to Credit Agreement
Summary
On February 6, 2025, Avis Budget Group, Inc. and its subsidiaries entered into the Ninth Amendment to the Sixth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., establishing a new term loan A facility in an aggregate principal amount of $500,000,000. The proceeds will be used to finance an upcoming fleet rotation and for general corporate purposes.
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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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