Avis to redeem $100 million of 5½% notes with proceeds of new notes

By Taylor Fox

New York, Aug. 3 – Avis Budget Group, Inc. intends to use net proceeds of its offering of $350 million of 5¾% senior notes due 2027 to redeem its outstanding $100 million in aggregate principal amount of its 5½% senior notes due 2023, according to a news release.

Any remaining proceeds will be used for general corporate purposes.

Avis is a vehicle rental company based in Parsippany, N.J.

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