Market reports indicate that Avis Budget Group is offering to sell $300 million of U.S. ABS backed by auto rentals to investors.

The deal will not be eligible under the Federal Reserve's Term Asset-Backed Securities Loan Facility (TALF).

The structure offers 3.18-year triple-A rated notes and will be privately placed. Published reports said it is being underwritten by Deutsche Bank and Barclays Capital.


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