Avis Shuns Pro Rata Market for European Acquisition

Colter, Allison Bisbey
September 2011
High Yield Report;9/19/2011, p10
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.


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