Avis Budget Car Rental issues $300M of 8% Senior Notes due 2031 to refinance existing 5.75% notes

AVIS BUDGET GROUP, INC.

Issued $300M aggregate principal of 8.000% Senior Notes due 2031 as additional notes under existing indenture.
Proceeds with cash on hand to redeem a portion of 5.750% Senior Notes due 2027 and pay fees.
Notes mature Feb 15, 2031, interest 8% per annum semi-annual; first payment Nov 15, 2026.
Notes are senior unsecured guaranteed by parent Avis Budget Group and certain subsidiaries.
Issuers may redeem notes at any time before Nov 15, 2026 at make-whole premium, or after at specified prices.

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