Avis Budget Group obtained a waiver of the leverage covenant included in its existing senior credit facilities until June 30, 2021. According to a related 8K filed with SEC, J.P. Morgan Chase Bank is the administrative agent for the facilities.
Avis Budget Group extended the term of its $1.8 billion senior revolving credit facility for an additional two years to 2023. The company also extended the maturity of its $1.1 billion term loan for an additional three years to 2025, with no change in interest rate charged.
Avis Budget Group amended its senior credit facility, including a $188 million increase in its outstanding term loans and a three-year extension of the maturity date of a portion its existing term loans.
Avis Budget Group entered into fourth amendment of its credit agreement dated October 3, 2014, which extended the term until 2021. JPMorgan Chase served as administrative agent.