Dollar Thrifty to launch $600 million credit facility on Monday

By Sara Rosenberg

New York, May 18 - Dollar Thrifty Automotive Group Inc. is scheduled to hold a bank meeting on Monday to launch its proposed $600 million credit facility, according to a market source.

Deutsche Bank and Bank of Nova Scotia are the lead banks on the deal, with Deutsche the left lead.

The facility consists of a $350 million revolver and a $250 million term loan B, the source said.

Proceeds will be used to refinance existing debt.

Dollar Thrifty is a Tulsa, Okla., vehicle rental company.

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