secwatch.observer — SEC 8-K summary
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Issuer:     AVIS BUDGET GROUP, INC. (CAR)
CIK:        0000723612
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0000950142-23-001614
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avis Budget Group subsidiary issues $1.002B in asset-backed securities in two tranches
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/0000950142-23-001614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723612/000095014223001614/eh230364308_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-23-001614

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