secwatch.observer — SEC 8-K summary
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Issuer:     AVIS BUDGET GROUP, INC. (CAR)
CIK:        0000723612
Form:       8-K
Filed at:   2022-12-02T23:59:59+00:00
Accession:  0000950142-22-003287
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723612/000095014222003287/0000950142-22-003287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723612/000095014222003287/eh220307786_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-003287

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