Dollar Thrifty Seeks $600 Million in Credit

Dollar Thrifty Automotive Group, Inc. announced today that it is seeking $600 million in new Senior Secured Credit Facilities to refinance its existing credit facility, pay related fees and expenses, reduce vehicle debt, and for general corporate purposes.

The new credit facility is expected to include up to $350 million Revolving Credit Facility, which will replace the existing $300 million Revolving Credit Facility, and up to $250 million Term Loan B, which the Company initially intends to be used to repay asset-backed vehicle indebtedness.

Deutsche Bank Securities Inc. and The Bank of Nova Scotia will arrange a syndicate of lenders for the new credit facility.

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