Avis Budget Group (CAR +4.5%) trades higher after completing a $650M offering of of asset-backed...

|About: Avis Budget Group, Inc. (CAR)|By:, SA News Editor

Avis Budget Group (CAR +4.5%) trades higher after completing a $650M offering of of asset-backed bonds with a weighted average interest rate of 3.5%. The proceeds will be used to refinance existing higher-interest ABS debt maturing in 2012.