Avis Budget (CAR) Unit Renews Asset-Backed Facility; Increases to $1.5B

Avis Budget Group, Inc. (Nasdaq: CAR) reports its Avis Budget Rental Car Funding (AESOP) LLC subsidiary has renewed its U.S. asset-backed bank conduit facility, expanding its borrowing capacity by $450 million to $2.5 billion. The date until which the Company may borrow under the entire facility has been extended to October 2013.

J.P. Morgan and Deutsche Bank served as lead arrangers for the facility, which has ten participating lenders.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Roots Corporation to go private in C$4.10-per-share deal with Marquee Brands
• Virtus Investment Partners names Jack Boyce to its board
• Cinemo, Dolby, and SmashLabs partner on in-car gaming system