Avis Budget Group secured $600M in high-yield debt at 8.375%, likely refinancing existing obligations while extending maturity timelines. Avis Budget has successfully priced a $600 million offering of senior unsecured notes, 8.375% interest rate with maturity in 2032. The offering was actually increased by $100 million from the initially announced amount, suggesting strong investor demand despite the relatively high yield. The 8.375% coupon rate reflects current interest rate realities and Avis Budget's credit profile. These notes will be guaranteed by the parent company and certain U.S. subsidiaries, which provides additional security for investors without directly encumbering specific assets. The proceeds allocation is particularly significant - the company plans to use the funds for general corporate purposes, but specifically mentions potential repayment of their floating rate term loan maturing in December 2025 and part of their fleet debt.