AVIS BUDGET GROUP, INC. (CAR): debt financing — Avis Budget Group increases ABS facilities by $500M in temporary bridge financing

AVIS BUDGET GROUP, INC.

Series 2010-6 facility increased from ~$3.06B to ~$3.46B; Series 2015-3 from ~$279.3M to ~$379.3M.
Increases are temporary; amounts revert by $400M and $100M on Feb 28, 2024 or upon new term note offering.
Amendments dated Nov 3, 2023 through subsidiary ABRCF; notes secured by rental car fleet assets.
Bridge financing provides additional liquidity for U.S. fleet; reduction date set at earlier of Feb 28, 2024 or new issuance.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVIS BUDGET GROUP, INC. amended debt of increased from approximately $3.06 billion to $3.46 billion.

Principal: increased from approximately $3.06 billion to $3.46 billion
Event: amendment

Exact text from the filing

the aggregate amount of the Series 2010-6 Notes facility was increased from approximately $3.06 billion to $3.46 billion

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVIS BUDGET GROUP, INC. amended debt of increased from approximately $279.3 million to $379.3 million.

Principal: increased from approximately $279.3 million to $379.3 million
Event: amendment

Exact text from the filing

the aggregate amount of the Series 2015-3 Notes facility was increased from approximately $279.3 million to $379.3 million

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AVIS BUDGET GROUP, INC. amended Third Amendment to the Third Amended and Restated Series 2015-3 Supplement valued at increased from approximately $279.3 million to $379.3 million (effective 2023-11-03).

Action: amendment
Agreement: credit facility
Value: increased from approximately $279.3 million to $379.3 million
Effective: 2023-11-03

Exact text from the filing

on November 3, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) completed an amendment of its asset-backed variable-funding financing facilities

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AVIS BUDGET GROUP, INC. amended Third Amendment to the Fifth Amended and Restated Series 2010-6 Supplement valued at increased from approximately $3.06 billion to $3.46 billion (effective 2023-11-03).

Action: amendment
Agreement: credit facility
Value: increased from approximately $3.06 billion to $3.46 billion
Effective: 2023-11-03

Exact text from the filing

on November 3, 2023 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) completed an amendment of its asset-backed variable-funding financing facilities

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

AVIS BUDGET GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950142-23-002738

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