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July 28, 2015 5:30 AM ET

Road and Rail

Company Overview of Avis Budget Car Rental, LLC

Company Overview

Avis Budget Car Rental, LLC operates and franchises vehicle rental services under the names Avis and Budget. The company offers domestic car rental services providing car rentals and ancillary products and services to business and leisure travelers in the United States; international car rental services providing car rentals and ancillary products and services to business and leisure travelers in Canada, Puerto Rico, the U.S. Virgin Islands, Argentina, Australia, and New Zealand; and truck rental services providing truck rentals and related services to consumers and light commercial users in the United States. The company was formerly known as Cendant Car Rental Group, Inc. The company was i...

6 Sylvan Way

Parsippany, NJ 07054

United States

Founded in 1996

Phone:

973-496-4700

Key Executives for Avis Budget Car Rental, LLC

Chief Financial Officer, Executive Vice President and Treasurer
Age: 47
Chairman of Avis Budget Group, Inc., Chief Executive Officer of Avis Budget Group, Inc. and President of Avis Budget Group, Inc.
Age: 62
Chief Human Resource Officer and Executive Vice President
Age: 49
Chief Accounting Officer and Senior Vice President
Age: 54
Chief Information Officer and Senior Vice President
Compensation as of Fiscal Year 2015.

Avis Budget Car Rental, LLC Key Developments

Avis Budget Car Rental Closes Offering of $375 Million Aggregate Principal Amount of 5.25% Senior Notes Due 2025

Avis Budget Group announced that its subsidiary Avis Budget Car Rental LLC has closed its offering of $375 million aggregate principal amount of 5.25% senior notes due 2025. The company intends to use the net proceeds for debt repayments, acquisitions and other general corporate purposes.

Avis Budget Car Rental Seeks Acquisitions

Avis Budget Car Rental, LLC is looking for acquisition opportunities. Avis Budget Car Rental closes offering of $375 million aggregate principal amount of 5.25% senior notes due 2025 and intends to use the net proceeds for debt repayments, acquisitions and other general corporate purposes.s

Avis Budget Group, Inc., Avis Budget Holdings, LLC and Avis Budget Car Rental, LLC Announces Third Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A

On October 3, 2014, Avis Budget Group, Inc. and its subsidiaries, Avis Budget Holdings, LLC and Avis Budget Car Rental, LLC, as the Borrower, entered into a third amendment and restatement, dated as of October 3, 2014, of the Second Amended and Restated Credit Agreement dated as of August 2, 2013, with JPMorgan Chase Bank, N.A., as Administrative Agent and the other lenders party thereto. Pursuant to this amendment, the amount available under the Company's revolving credit facility was increased from $1.65 billion to $1.8 billion and the maturity of the facility was extended. The new credit agreement also contains revised affirmative covenants, financial and other negative covenants and certain other revised terms. In connection with this amendment, the Company also entered into a Second Amendment to the Guarantee and Collateral Agreement dated October 3, 2014.

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