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Avis completes financing for acquisition of Zipcar

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Parsippany-based Avis Budget Group Inc. announced today it has completed approximately $525 million in debt financing intended to fund the acquisition of Zipcar.

In an announcement, the company noted as part of the funding package, it issued its first Euro-denominated notes in a bid to further diversifying its capital structure.

Avis anticipates the acquisition will be completed next week, following regulatory approval in the United Kingdom. U.S. regulators already have approved the acquisition.

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