Avis Budget Group amended its credit agreement on June 29, 2026, refinancing its existing $2.0 billion revolving credit facility with a new $2.0 billion revolver maturing in 2031 and establishing an additional $200 million revolver maturing in 2028. Both facilities include springing maturity provisions tied to certain long-term debt thresholds, and the 2028 facility also links to proceeds from large legal settlements. The actions are expected to extend maturities, bolster liquidity, and increase financial flexibility under market conditions.
Agreement 1: Avis Budget Group Secures New $2 Billion 2031 Revolving Credit Facility
- Agreement type: $2.0 billion revolving credit facility under amended credit agreement
- Counterparty: JPMorgan Chase Bank, as Administrative Agent, and other lenders
- Signed / Effective: Jun 29 2026 / same
- Duration / Termination: Through Jun 29 2031 (springing maturity provisions)
- Reason: Refinance revolver and extend liquidity profile
Agreement 2: Avis Budget Group Adds New $200 Million 2028 Revolving Credit Facility
- Agreement type: $200 million revolving credit facility under amended credit agreement
- Counterparty: JPMorgan Chase Bank, as Administrative Agent, and other lenders
- Signed / Effective: Jun 29 2026 / same
- Duration / Termination: Through Jun 29 2028 (springing maturity provisions)
- Reason: Add supplemental liquidity and flexibility
Original SEC Filing:
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