A Jersey bond was used to raise money in the deal for vehicle rental business Avis Budget to buy Zipcar, the world’s leading car sharing network.
Zipcar has more than 777,000 members and nearly 10,000 vehicles in urban areas and college campuses throughout the US, Canada, the UK, Spain and Austria.
The company offers vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car.
Ogier acted alongside Kirkland & Ellis in New York to advise Avis Budget on its placement of 250 million euro eight-year unsecured bonds. The transaction is expected to be completed this week.
