Avis-Budget Rental Car to issue $300 mln auto ABS

Newswire

NEW YORK, Sept 22 (Reuters) - Avis-Budget Rental Car is offering to sell $300 million of U.S. asset-backed securities supported by auto rentals to investors, said market sources on Tuesday. The deal includes AAA-rated 3.18-year notes that are expected to price in the area of 6 percent. The private placement offering will be underwritten by Deutsche Bank Securities and Barclays Capital, market sources said. The offering is not eligible under the Federal Reserve's Term Asset-Backed ...

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