Avis Budget Group Announces Pricing of $300 Million of Senior Notes

PARSIPPANY, N.J., May 27, 2026 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), priced a private offering of $300 million aggregate principal amount of additional 8.000% Senior Notes due 2031 (the “Notes”) in a private offering. The Notes will be issued as additional notes under the Indenture, dated as of November 22, 2023, pursuant to which the Issuers previously issued $500 million aggregate principal amount of 8.000% Senior Notes due 2031. The Notes will have a maturity date of February 15, 2031. The closing of the offering of the Notes is expected to occur on May 29, 2026, subject to customary closing conditions. The Notes were priced at 100.500% of its face value and will be guaranteed on a senior unsecured basis by the Company and certain of its U.S. subsidiaries.