Zipcar Doubles Its Asset Backed Securitization Facility to $100M to Support Fleet Growth
Zipcar, Inc. (Nasdaq: ZIP) today announced a relationship with Barclays Capital under which Zipcar has issued a new series of variable funding notes pursuant to its asset backed securitization (ABS) facility in the principal amount of up to $50 million, increasing the total availability of ABS funding lines to $100 million. The terms of the new series of ABS notes represent a modest improvement on the terms of the currently outstanding series of ABS notes.
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