Avis to Eye Bond Sale to Ride Out Travel Shutdown [Yahoo! Finance News]
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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Source: Yahoo! Finance News
) -- Avis Budget Group Inc., the rental-car company, is looking to sell bonds to help it get through the shutdown of the travel industry during the coronavirus pandemic, according to people with knowledge of the situation.The company is negotiating an amendment to existing credit agreements that would enable it to sell as much as $750 million of secured bonds, the people said, asking not to be identified discussing a private matter. The amendment is close to being finalized and the bond could emerge after it’s completed, they said.Avis shares extended their gains after reported the sale, rising 8.9% to $13.08 on Friday in New York. The stock has plunged 59% this year.The rental-car industry, like airlines and cruise line operators, has been battered by a global clampdown on non-essential travel to stem the spread of Covid-19. Avis announced plans last month to cut annualized costs by $400 million and said this week it’s now on track to cut costs by $2 billion a year. The company and
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News
- Avis Budget Group, Inc. (NASDAQ: CAR) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $85.00 to $95.00. They now have a "neutral" rating on the stock.MarketBeat
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CAR
Earnings
- 10/31/24 - Miss
CAR
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/4/24 - Form SC
- CAR's page on the SEC website