Avis Budget Group Shares Plan to Offer €400M of Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Avis Budget Group, Inc. (NASDAQ:CAR) plans to offer €400 million of senior notes due 2030 through its subsidiary, Avis Budget Finance plc. The proceeds will be used to redeem all outstanding 4.125% senior notes due 2024 and pay related fees and expenses, with the remainder for general corporate purposes, potentially including debt repayment.
July 05, 2023 | 9:42 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Avis Budget Group's plan to offer €400 million of senior notes could potentially improve its financial position by repaying existing debt and funding corporate activities.
The offering of senior notes will provide Avis Budget Group with additional capital. This capital will be used to redeem existing senior notes, which could reduce interest expenses and improve the company's financial health. The remaining funds could be used for general corporate purposes, potentially including debt repayment, which would further strengthen the company's balance sheet.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100