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Avis Budget to redeem $100 million 5˝% notes due 2023 on April 1
By Sarah Lizee
Olympia, Wash., Feb. 7 – Avis Budget Group, Inc. plans to redeem $100 million of Avis Budget Car Rental, LLC and Avis Budget Finance, Inc.’s 5˝% senior notes due 2023 on April 1, according to an 8-K filing with the Securities and Exchange Commission.
The redemption is being made in connection with the company’s credit agreement amendment on Feb. 6, which lowered pricing by 25 basis points to Libor plus 175 bps and extended the maturity of its tranche B term loan.
Avis is a Parsippany, N.J.-based vehicle rental company.
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