Avis Budget will redeem outstanding 4½% notes due 2025 from new offering

Chicago, Nov. 15 – Avis Budget Group, Inc. said that all of Avis Budget Finance plc’s outstanding 4½% senior notes due 2025 will be redeemed from the proceeds of a new offering of senior notes, according to a press release.

The company sold $500 million of new notes on Wednesday.

The new notes will fund the redemption, repay a portion of floating-rate term loan C debt and be used for general corporate purposes.

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

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