Why Is Avis Budget Group (CAR) Stock Trending Overnight?

Avis Budget Group, Inc. (NASDAQ: CAR ) shares are trending on Friday. Shares of the car rental agency holding company were unchanged at $163.44 after the bell on Thursday. According to Pro data, CAR shares surged 11.23% to $163.44 in the regular session. Credit Agreement Amendment Drives the Move The stock move followed a Wednesday filing detailing an Eleventh Amendment to Avis Budget’s credit agreement, led by JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase & Co. (NYSE: JPM ), as administrative agent. The amendment, which closed on Monday, refinances a $2 billion revolving loan facility and extends its maturity to 2031. It also establishes a new $200 million revolving facility maturing in 2028. According to the SEC filing, BofA Securities, Morgan Stanley (NYSE: MS ), Wells Fargo (NYSE: WFC ), Royal Bank of Canada (NYSE: RY ) and several other banks served as joint lea...