{"schema_version":"secwatch.filing_event.v1","accession":"0000950142-23-001614","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2023-06-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.072621+00:00","generated_at":"2026-06-14T06:56:38.468107+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Avis Budget Group subsidiary issues $1.002B in asset-backed securities in two tranches","bullets":["ABRCF issued $476M of 3-year ABS: $377M Class A at 5.78%, $60.2M Class B at 6.12%, $38.8M Class C at 6.85%, plus $26.2M Class R at 8.768%.","ABRCF also issued $526M of 5-year ABS: $416.6M Class A at 5.81%, $66.5M Class B at 6.40%, $42.9M Class C at 7.03%, plus $29M Class R at 8.969%.","Notes are secured by domestic fleet vehicles; proceeds used to fund fleet purchases.","Class R notes held by AESOP Leasing L.P. to comply with U.S. risk retention rules."],"urls":{"canonical":"https://secwatch.observer/filing/0000950142-23-001614","json":"https://secwatch.observer/filing/0000950142-23-001614.json","markdown":"https://secwatch.observer/filing/0000950142-23-001614.md","text":"https://secwatch.observer/filing/0000950142-23-001614.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/eh230364308_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T06:56:38.468107+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":"263b8380ce091f61e3b9608dd9646387f53b520c","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $526 million maturing five years.","evidence_excerpt":"On the Closing Date, ABRCF also issued $526 million of asset-backed securities with a maturity of five years, comprised of $416.6 million aggregate principal amount of Series 2023-6 5.81%, Class A notes, $66.5 million aggregate principal amount of Series 2023-6 6.40%, Class B notes and $42.9 million aggregate principal amount of Series 2023-6 7.03%, Class C notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$526 million"},{"label":"Maturity","value":"five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"c57ad978d55123d538e7755b4002b1c505363a51","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $476 million maturing three years.","evidence_excerpt":"On June 1, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $476 million of asset-backed securities with a maturity of three years, comprised of $377 million aggregate principal amount of Series 2023-5 5.78%, Class A notes, $60.2 million aggregate principal amount of Series 2023-5 6.12%, Class B notes and $38.8 million aggregate principal amount of Series 2023-5 6.85%, Class C notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$476 million"},{"label":"Maturity","value":"three years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"8464fd625283186b63fbe84896a47555b8ad280e","claim":"AVIS BUDGET GROUP, INC. entered into Series 2023-6 Supplement with The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2023-6 Agent valued at $526 million (effective 2023-06-01).","evidence_excerpt":"On the Closing Date, ABRCF also issued $526 million of asset-backed securities with a maturity of five years, comprised of $416.6 million aggregate principal amount of Series 2023-6 5.81%, Class A notes, $66.5 million aggregate principal amount of Series 2023-6 6.40%, Class B notes and $42.9 million aggregate principal amount of Series 2023-6 7.03%, Class C notes. ABRCF also issued $29 million aggregate principal amount of Series 2023-6 8.969%, Class R notes, which are subordinated to the Class A notes, the Class B notes and the Class C notes and were issued to comply with applicable U.S. risk retention rules. The Class R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under the Series 2023-6 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2023-6 Agent (the “Series 2023-6 Supplement”), to the Base Indenture.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-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., as trustee and Series 2023-6 Agent"},{"label":"Value","value":"$526 million"},{"label":"Effective","value":"2023-06-01"}],"fact_type":"material_agreement"},{"claim_id":"b4af370bb7abc53ed22b3f6f5859be7c4154c4fe","claim":"AVIS BUDGET GROUP, INC. entered into Series 2023-5 Supplement with The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2023-5 Agent valued at $476 million (effective 2023-06-01).","evidence_excerpt":"On June 1, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $476 million of asset-backed securities with a maturity of three years, comprised of $377 million aggregate principal amount of Series 2023-5 5.78%, Class A notes, $60.2 million aggregate principal amount of Series 2023-5 6.12%, Class B notes and $38.8 million aggregate principal amount of Series 2023-5 6.85%, Class C notes. ABRCF also issued $26.2 million aggregate principal amount of Series 2023-5 8.768%, Class R notes, which are subordinated to the Class A notes, the Class B notes and the Class C notes and were issued to comply with applicable U.S. risk retention rules. The Class R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under the Series 2023-5 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2023-5 Agent (the “Series 2023-5 Supplement”), to the Second Amen","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-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., as trustee and Series 2023-5 Agent"},{"label":"Value","value":"$476 million"},{"label":"Effective","value":"2023-06-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}