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May 4, 2020, 7:57 a.m. EDT

Avis Budget to offer $400 million in bonds

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By Ciara Linnane

Avis Budget Group Inc. /zigman2/quotes/203618115/composite CAR +5.30% said Monday it is planning to offer $400 million of senior secured notes that mature in 2025 in a private offering. The car rental company said proceeds will be used for general corporate purposes. Shares fell 4.3% premarket and are down 57% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.34% has fallen 12%.

/zigman2/quotes/203618115/composite
US : U.S.: Nasdaq
$ 28.42
+1.43 +5.30%
Volume: 3.22M
July 14, 2020 4:00p
P/E Ratio
9.32
Dividend Yield
N/A
Market Cap
$1.88 billion
Rev. per Employee
$304,133
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/zigman2/quotes/210599714/realtime
US : S&P US
3,197.52
+42.30 +1.34%
Volume: 2.63B
July 14, 2020 5:13p
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