Avis Budget Group Inc. /zigman2/quotes/203618115/composite CAR +4.47% announced the pricing of a debt offering, which that was upsized by 20% to $500 million, a day after the company reported first-quarter results that beat expectations. Early Monday, the rental car company said it was planning a private offering of $400 million of senior secured notes that mature in 2025. After the company reported earnings after Monday's close, Avis said Tuesday that the 10.5% notes priced at 97% of their face value. That compares with the yield on 5-year Treasury notes of about 0.35%. Avis's credit is rated by S&P Global Ratings at B+, which is four notches deep into speculative grade, or "junk" territory. Avis's stock fell 0.7% in afternoon trading. It has tumbled 60.8% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.05% has declined 13.4%.