Avis Budget Subsidiaries Prices Private Offering Of $700M Of 8.250% Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
Avis Budget Group's subsidiaries have priced a private offering of $700 million in 8.250% senior notes due 2030, marking a $200 million increase from the initial offering size. The notes are expected to close on September 13, 2024, and will be guaranteed by the company and certain U.S. subsidiaries.
September 10, 2024 | 9:24 pm
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Avis Budget Group has increased its private offering to $700 million in senior notes, which may impact its credit profile and financial strategy.
The increase in the offering size suggests a strategic move to raise more capital, which could affect Avis Budget's credit profile. However, as the notes are guaranteed, it indicates confidence in meeting obligations, leading to a neutral short-term impact.
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