Avis Budget Group, Inc. (NASDAQ:CAR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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LLC subsidiary completed the annual renewal of its asset-backed
conduit financings known as the Series 2010-6 Notes and the
Series 2015-3 Notes, which provide a portion of the financing for
our car rental fleet in the United States. The aggregate
commitment of the purchaser groups was increased by $75 million.
The maximum available amount of the 2010-6 facility is now $1.9
billion and the 2015-3 facility is $800 million. The Series
2010-6 Notes and the Series 2015-3 Notes are each a two-year
facility with a maturity date of November 30, 2018.
qualified in its entirety by reference to the complete terms of
the Third Amendment to the Second Amended and Restated Series
2010-6 Supplement and the First Amendment to the Amended and
Restated Series 2015-3 Supplement, copies of which are attached
hereto as Exhibit 10.1 and 10.2 and are incorporated by reference
herein.
respective affiliates, have performed and may in the future
perform, various commercial banking, investment banking and other
financial advisory services for us and our subsidiaries for which
they have received, and will receive, customary fees and
expenses.
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Item 2.03
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
incorporated into this Item 2.03 by reference.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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First Amendment to the Series 2015-3 Supplement, dated
as of November 17, 2016, among Avis Budget Rental Car Funding (AESOP) LLC, the administrator, administrative agent, purchasers and funding agents listed therein, and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2015-3 Agent. |
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10.2
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Third Amendment to the Second Amended and Restated
Series 2010-6 Supplement, dated as of November17, 2016, among Avis Budget Rental Car Funding (AESOP) LLC, the administrator, administrative agent, purchasers and funding agents listed therein, and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2010-6 Agent. |
About Avis Budget Group, Inc. (NASDAQ:CAR)
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. It operates in two segments: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets. Avis Budget Group, Inc. (NASDAQ:CAR) Recent Trading Information
Avis Budget Group, Inc. (NASDAQ:CAR) closed its last trading session up +0.76 at 39.65 with 1,761,081 shares trading hands.
