ERAC USA, a unit of Enterprise Holdings, has raised $500 million through a note sale, Reuters reports. The 2.25% notes will mature on Oct. 1, 2014. The size of the debt sale has been increased from the initial $350 million.
Car-rental company Enterprise Holdings has guaranteed the notes. Bank of America Merrill Lynch, Barclays and Deutsche Bank were the joint bookrunning managers for the sale.
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