Avis Budget to redeem 6% notes, some floaters due 2017 via new issue

By Susanna Moon

Chicago, March 1 – Avis Budget Group, Inc. plans to redeem its 6% senior notes due 2021 and some of its floating-rate senior notes due 2017 using proceeds of a notes offering.

Avis Budget Finance plc, a wholly owned subsidiary, plans to price €250 million principal amount of senior notes due 2025 in a private offering under Rule 144A and Regulation S, according to a company announcement.

The notes will be guaranteed by Avis Budget Group, Inc. and some of its U.S. subsidiaries.

Avis is a Parsippany, N.J.-based provider of vehicle rental services.

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