WASHINGTON (dpa-AFX) - Avis Budget Group Inc. (CAR) announced that it has completed a EUR 350 million European variable fleet financing facility maturing in October 2013. This financing has been executed in conjunction with the Company's recently completed acquisition of Avis Europe plc and represents an initial step toward increasing use of vehicle-backed debt to finance its European fleet.
Credit Agricole Corporate & Investment Bank served as lead arranger of the facility.
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