PRICE TALK: Avis Budget US$500m 7-year NC3 senior note: 8.50% area
PRICE TALK: 8.50% area
Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., B1/B+, announced a US$500m 144A/RegS 7-year NC3 senior unsecured note. The active bookrunners are RBC (B&D), BARC, Credit Ag, Scotia, BNP, WF, Lloyds, UniCredit. Co-Manager: USB, Citizens. TIMING: Global Investor Conference Call at 11:00AM ET; pricing expected today. Settle date: T+3. UOP: For general corporate purposes, which may include repayment of indebtedness, including, without limitation, repayment of the Term Loan A due 2025 and a portion of our outstanding fleet debt, and to pay fees and expenses in connection with the transaction