---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-22-003287"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:31:35.334134+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Avis Budget ABS subsidiary issues $500.5M in five-year asset-backed notes

## Summary
- Avis Budget Rental Car Funding (AESOP) issued $500.5M in Series 2022-5 ABS: Class A $434.1M at 6.12%, Class B $66.4M at 7.09%.
- ABRCF retained $52.5M Class C notes (9.27%) and issued $30.4M Class R notes (11.162%) for risk retention.
- Notes mature in five years and are secured primarily by vehicles in the domestic fleet.
- Proceeds deposited into Collection Account and deemed Principal Collections for fleet funding.
- Class B, C, and R notes are subordinated to Class A notes in right of payment.

## SEC filing metadata
- accession: 0000950142-22-003287
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014222003287/0000950142-22-003287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014222003287/eh220307786_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-22-003287
- JSON: https://secwatch.observer/filing/0000950142-22-003287.json
- Plain text: https://secwatch.observer/filing/0000950142-22-003287.txt

## Key facts
- Material Agreements
  AVIS BUDGET GROUP, INC. entered into Series 2022-5 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $500.5 million (effective 2022-11-29).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon Trust Company, N.A.
  - Value: $500.5 million
  - Effective: 2022-11-29
  source text: On November 29, 2022 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $500.5 million of asset-backed securities with a maturity of five years, comprised of $434.1 million aggregate principal amount of Series 2022-5 6.12%, Class A notes, and $66.4 million aggregate principal amount of Series 2022-5 7.09%, Class B notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723612/000095014222003287/0000950142-22-003287-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.