New Issue-Avis Budget sells $1 bln notes in 3 parts

Newswire

April 11 (Reuters) - Avis Budget Rental Car LLC and Avis Budget Finance Inc., units of Cendant Corporation , jointly sold $1 billion in three-part senior notes in the 144a private placement market, said market sources on Tuesday.

J.P. Morgan, Deutsche Bank Securities Inc., Banc of America Securities LLC, Citigroup Global Markets Inc., and Wachovia Securities Inc. were the joint lead managers for the sale, the sources said. BORROWER: AVIS BUDGET RENTAL CAR LLC/AVIS BUDGET FINANCE ...

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