Budget seeking DIP loans amid Cendant talks - sources

Newswire

By Jeffrey Goldfarb NEW YORK, June 27 (Reuters) - Car-rental company Budget Group Inc. is in negotiations with at least three banks for debtor-in-possession loans as it prepares a possible bankruptcy filing and continues talks to be bought by Cendant Corp. , people close to the deal said on Thursday. Budget, with 6,500 car and truck rental locations worldwide, is seeking as much as $150 million of so-called DIP loans that would help keep the company running if it sought to reorganize in ...

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