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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.

Write to the Editorial Department at editorial@njbiz.com

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