secwatch.observer — SEC 8-K summary
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Issuer:     AVIS BUDGET GROUP, INC. (CAR)
CIK:        0000723612
Form:       8-K
Filed at:   2023-01-20T23:59:59+00:00
Accession:  0000950142-23-000177
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 issues $850M in asset-backed securities across two series
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/0000950142-23-000177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723612/000095014223000177/eh230319711_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-23-000177

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer