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Avis Budget Group Completes Financing for Its Pending Acquisition of Zipcar

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PARSIPPANY, N.J., March 8, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc.(Nasdaq:CAR) announced today that it has completed approximately $525 million in debt financing intended to fund its pending acquisition of Zipcar (Nasdaq:ZIP). As part of the funding package, the Company issued its first Euro-denominated notes, further diversifying its capital structure to reflect the global […]

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Zipcar Stockholders Approve Acquisition of Zipcar by Avis Budget Group

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PARSIPPANY, N.J. and CAMBRIDGE, Mass., March 7, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (Nasdaq:CAR) and Zipcar, Inc. (Nasdaq:ZIP), the world’s leading car sharing network, today announced that, at a special meeting of stockholders held earlier today, Zipcar stockholders voted to approve the adoption of the previously announced merger agreement with Avis Budget. Approximately […]

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Avis Budget Group Delivers More Than $50 Million From Performance Excellence Initiative in 2012

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PARSIPPANY, N.J., March 6, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (Nasdaq:CAR) today disclosed details of the financial benefits that its award-winning Performance Excellence (PEx) initiative contributed to the Company’s financial results in 2012. As one of the key initiatives in the Company’s global strategic plan to drive efficiency throughout the organization, the Avis […]

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Avis Budget Group Chief Financial Officer to Present at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Forum on Thursday, March 7

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PARSIPPANY, N.J., March 4, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (Nasdaq:CAR), a leading global provider of vehicle rental services, today announced that David B. Wyshner, Senior Executive Vice President and Chief Financial Officer, will present at the 2013 J.P. Morgan Gaming, Lodging, Restaurant & Leisure Forum on March 7, 2013 at 12:00 noon […]

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From First to Market to the International Leader, Avis Celebrates 10th Anniversary of China Operations

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PARSIPPANY, N.J., March 4, 2013 (GLOBE NEWSWIRE) — Avis Car Rental today announced its 10th anniversary in the People’s Republic of China. Established in 2003 as a joint venture with Shanghai Automotive Industry Corporation, one of the largest car manufacturers in China, Avis China was the first joint venture car rental company in the country. Today, […]

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Avis Budget Group Celebrates Team Members Who Own the Customer Experience

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PARSIPPANY, N.J., Feb. 27, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (Nasdaq:CAR) today announced that the Company has recognized more than 1,000 Customer Experience Owners (C.E.O.s). Introduced in North America in 2011, the C.E.O. program highlights the achievements of team members who have been praised by Avis Car Rental, Budget Car Rental and Budget […]

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Avis Budget Group Completes $750 Million Asset-Backed Bond Offering

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PARSIPPANY, N.J., Feb. 13, 2013 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (Nasdaq:CAR) announced today that its Avis Budget Rental Car Funding (AESOP) LLC subsidiary has completed an offering of $750 million of asset-backed bonds with a weighted average interest rate of approximately 2.0%, the lowest rate on five-year, fixed-rate vehicle debt in the Company’s […]