Avis Budget Group priced $300 million of senior notes
The notes mature in 2031 and proceeds will redeem existing debt.
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Global vehicle rental and mobility solutions provider
avisbudgetgroup.comLast updated
In short: Avis Budget Group reported significant losses due to EV fleet impairments, ended a major tech contract, and issued $300 million in senior notes.
The notes mature in 2031 and proceeds will redeem existing debt.
Revenues reached $2.5 billion with a net loss of $234 million and Adjusted EBITDA loss of $113 million. Operational highlights include 3% revenue per day growth and 70% vehicle utilization.
Q4 revenues reached $2.7 billion with $5 million Adjusted EBITDA; full-year revenues were $11.7 billion. Q4 net loss included $518 million EV impairment. Liquidity stood at $818 million.
Revenues reach $3.5 billion, net income $360 million, Adjusted EBITDA $559 million. Americas EBITDA up to $398 million, International to $190 million.
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