Avis Budget receives $650M Pentwater settlement; plans to repay $350M of 5.750% notes due 2027

AVIS BUDGET GROUP, INC.

Avis Budget was paid $650,000,000 in cash on October 5, 2026 by Pentwater Capital Management LP and affiliates, settling its Section 16(b) short-swing profits lawsuit.
The Settlement and Release Agreement was entered into June 19, 2026; the court approved the payment, and it will be recognized in Avis Budget's fourth-quarter 2026 financial statements.
Avis Budget expects to use a portion of the proceeds to repay the remaining $350 million outstanding principal of its 5.750% Senior Notes due 2027 before year end.
The filing notes that nothing in it constitutes a notice of redemption with respect to the 5.750% Senior Notes due 2027.

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