Avis Budget Group outlines expansion plans following bond offering

Avis Budget Group has announced that its Avis Budget Rental Car Funding subsidiary has completed an offering of $650 million of five-year, fixed-rate asset-backed bonds with a weighted average interest rate of approximately 2.7 per cent. The proceeds of the offering are expected to be used primarily to refinance maturing vehicle-backed debt, which has an average interest rate of approximately 3.6 per cent in 2015, and to support growth of our business.



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