TITLE

Avis Shuns Pro Rata Market for European Acquisition

AUTHOR(S)
Colter, Allison Bisbey
PUB. DATE
September 2011
SOURCE
High Yield Report;9/19/2011, p10
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the action of Avis Budget to finance its European acquisition. This car rental company decided to abandon the bid for Dollar Thrifty Automotive Group which will leave Hertz Global Holdings as the only suitor. The company also chose to remove most of the term loan A tranche of its credit facility worth 900 million U.S. dollars and replace it with more expensive financing in the high yield bond market.
ACCESSION #
66187084

 

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