Simpson Thacher Represents Initial Purchasers in $500 Million Asset Backed Notes by Avis Budget Group
06.09.16
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Simpson Thacher recently represented the initial purchasers in connection with a 144A offering by Avis Budget Rental Car Funding (AESOP) LLC (“ABCRF”), a special purpose finance subsidiary of Avis Budget Group, Inc., of $500 million aggregate principal amount of its Series 2016-2 Rental Car Asset Backed Notes (the “Notes”).
The net proceeds from the issuance and sale of the Notes will generally be used to repay principal on other outstanding series of notes issued by ABCRF, and/or to acquire or finance new rental vehicles.
The Simpson Thacher team for this transaction included John Schueller and Kalliope Kefallinos (Capital Markets); and Jonathan Cantor and George Davis (Tax).