Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Avis Budget Car Rental LLC > News item |
Avis to price €250 million eight-year notes Thursday to yield 6% area
By Paul A. Harris and Aleesia Forni
Columbus, Ohio, Feb. 28 - Avis Budget Finance plc has set talk for its proposed €250 million issue of eight-year senior notes (B2/B) with yield in the 6% area, according to a market source.
Books close 10 a.m. ET on Thursday, and pricing is expected the same day.
Joint bookrunner Citigroup Global Markets Inc. will bill and deliver.
Credit Agricole CIB, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are joint bookrunners.
Mitubishi UFJ Securities, Natixis Securities North America Inc. and UniCredit are co-managers for the Rule 144A and Regulation S for life deal.
The notes will be non-callable for three years and feature a three-year 35% equity clawback and a 101% poison put.
Proceeds will be used to finance the acquisition of Zipcar Inc.
Avis is a Parsippany, N.J.-based provider of vehicle rental services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.