By Andrea Heisinger
New York, July 22 - Avis Budget Rental Car Funding LLC priced a $450 million deal of 9.31% asset-backed term notes (A2/) due 2012, according to a press release.
Proceeds are going to finance the company's domestic car rental fleet.
The subsidiary of Avis Budget Group, Inc. is based in Parsippany, N.J.
| Issuer: | Avis Budget Rental Car Funding LLC
|
| Issue: | Series 2009-1 asset-backed term notes
|
| Amount: | $450 million
|
| Maturity: | October 2012
|
| Coupon: | 9.31%
|
| Trade date: | July 22
|
| Ratings: | Moody's: A2
|
| Distribution: | Rule 144A
|
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