{"schema_version":"secwatch.filing_event.v1","accession":"0000950142-23-000177","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2023-01-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.893000+00:00","generated_at":"2026-06-20T12:46:55.028128+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Avis Budget issues $850M in asset-backed securities across two series","bullets":["Series 2023-1: $500M total; $433.7M Class A (5.25%), $66.3M Class B (6.08%), plus retained $52.49M Class C (8.70%) and $30.4M Class R (10.623%).","Series 2023-2: $350M total; $303.59M Class A (5.20%), $46.41M Class B (6.03%), plus retained $36.74M Class C (8.55%) and $21.3M Class R (10.476%).","Series 2023-1 matures in 5 years; Series 2023-2 in 3 years; secured by domestic fleet and other related assets.","Class C notes retained by ABRCF; Class R notes held by AESOP Leasing to comply with U.S. risk retention rules."],"urls":{"canonical":"https://secwatch.observer/filing/0000950142-23-000177","json":"https://secwatch.observer/filing/0000950142-23-000177.json","markdown":"https://secwatch.observer/filing/0000950142-23-000177.md","text":"https://secwatch.observer/filing/0000950142-23-000177.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/eh230319711_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T12:46:55.028128+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0c283f5c9ea841dab06fade7410672a6729a760b","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $500 million with The Bank of New York Mellon Trust Company, N.A. at 5.25% for Class A, 6.08% for Class B maturing five years.","evidence_excerpt":"On January 17, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $500 million of asset-backed securities with a maturity of five years, comprised of $433.7 million aggregate principal amount of Series 2023-1 5.25%, Class A notes, and $66.3 million aggregate principal amount of Series 2023-1 6.08%, Class B notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$500 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"5.25% for Class A, 6.08% for Class B"},{"label":"Maturity","value":"five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"285172bbd6258f67ac73ec31222c4f5ae97f9c11","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $350 million with The Bank of New York Mellon Trust Company, N.A. at 5.20% for Class A, 6.03% for Class B maturing three years.","evidence_excerpt":"On the Closing Date, ABRCF also issued $350 million of asset-backed securities with a maturity of three years, comprised of $303.59 million aggregate principal amount of Series 2023-2 5.20%, Class A notes, and $46.41 million aggregate principal amount of Series 2023-2 6.03%, Class B notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$350 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"5.20% for Class A, 6.03% for Class B"},{"label":"Maturity","value":"three years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a876b1ddc1ff02348d31cef89202398cb9d84cbf","claim":"AVIS BUDGET GROUP, INC. entered into Series 2023-2 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $350 million (effective 2023-01-17).","evidence_excerpt":"On the Closing Date, ABRCF also issued $350 million of asset-backed securities with a maturity of three years, comprised of $303.59 million aggregate principal amount of Series 2023-2 5.20%, Class A notes, and $46.41 million aggregate principal amount of Series 2023-2 6.03%, Class B notes.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Value","value":"$350 million"},{"label":"Effective","value":"2023-01-17"}],"fact_type":"material_agreement"},{"claim_id":"ffa3f5000d4620d8253334f20718eab9caaa4fb4","claim":"AVIS BUDGET GROUP, INC. entered into Series 2023-1 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $500 million (effective 2023-01-17).","evidence_excerpt":"On January 17, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $500 million of asset-backed securities with a maturity of five years, comprised of $433.7 million aggregate principal amount of Series 2023-1 5.25%, Class A notes, and $66.3 million aggregate principal amount of Series 2023-1 6.08%, Class B notes.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Value","value":"$500 million"},{"label":"Effective","value":"2023-01-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}