Ogier provides Jersey law advise to Avis Budget on add-on to senior notes issuance

Ogier has advised Avis Budget on the Jersey law aspects of its recent €200m (£166m) add-on to the 2014 senior notes issuance by Jersey issuer Avis Budget Finance.

On 6 March, Avis Budget placed a fungible add-on to the six per cent notes due 2021 via joint bookrunners Deutsche Bank (B&D), Credit Agricole CIB, Bank of America Merrill Lynch and JP Morgan.

Avis Budget Group is a provider of vehicle rental services through its Avis and Budget brands, with more than 10,000 rental locations in approximately 175 countries around the world.

The Ogier legal team in Jersey included Paul Burton, Laura Hendrick and Raulin Amy. Ogier acted alongside Kirkland & Ellis in New York (Christopher Kitchen and Brian Hecht) to advise Avis Budget.