NEW YORK— Cendant Corp. plans to issue $750 million of senior notes, and has named JP Morgan and Salomon Smith Barney as joint book-running managers for the transaction. The net proceeds will be used to repay outstanding indebtedness under Cendants existing revolving credit facility principally incurred in connection with the Budget (car rental) acquisition, and for general corporate purposes. The proposed sale to the public is anticipated to commence on or about January 9.
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