Avis Budget Car Rental, LLC, founded in 1946 and headquartered in Parsippany-Troy Hills, New Jersey, is a leading provider of vehicle rental services globally. The company operates under renowned brands such as Avis and Budget, offering a varied fleet of cars, trucks, and SUVs for leisure and business travelers, along with additional services like vehicle leasing and car sharing.
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
Avis Budget has a history of bond issuances dating back to the early 2000s, with significant offerings such as a $400 million issuance in 2014 to refinance existing debt. The company's bonds typically offer competitive yields in comparison to industry benchmarks, reflecting its robust operational performance. Notably, in 2021, Avis Budget issued $500 million in senior notes, which were well-received and contributed to its liquidity amidst the pandemic recovery. The bonds feature covenants that prioritize the maintenance of leverage ratios, ensuring a favorable risk profile for investors.