{"schema_version":"secwatch.filing_event.v1","accession":"0000950142-24-000165","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2024-01-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.760091+00:00","generated_at":"2026-06-06T22:12:45.820671+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 $1.2B in ABS notes; reduces fleet financing facilities by $500M","bullets":["Issued $1.2B Series 2024-1 ABS: $950.4M Class A (5.36%), $151.8M Class B (5.85%), $97.8M Class C (6.48%), $66M Class R (8.427%) notes, 5-year maturity.","Amended variable-funding facilities: Series 2010-6 reduced by $400M to $3.21B; Series 2015-3 reduced by $100M to $279.3M, effective Feb 28, 2024.","Notes secured by domestic fleet and related assets; proceeds used for rental car financing.","Class R notes held by subsidiary AESOP Leasing L.P. to satisfy U.S. risk retention rules."],"urls":{"canonical":"https://secwatch.observer/filing/0000950142-24-000165","json":"https://secwatch.observer/filing/0000950142-24-000165.json","markdown":"https://secwatch.observer/filing/0000950142-24-000165.md","text":"https://secwatch.observer/filing/0000950142-24-000165.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/eh240438620_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T22:12:45.820671+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":"6e4ee0dc8df48f2552ad3ce2c07e5ae7ba8c5c7c","claim":"AVIS BUDGET GROUP, INC. incurred debt of $66 million with The Bank of New York Mellon Trust Company, N.A. at 8.427% maturing maturity of five years.","evidence_excerpt":"million aggregate principal amount of Series 2024-1 5.85%, Class B notes and $97.8 million aggregate principal amount of Series 2024-1 6.48%, Class C notes. ABRCF also issued $66 million aggregate principal amount of Series 2024-1 8.427%, 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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Principal","value":"$66 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"8.427%"},{"label":"Maturity","value":"maturity of five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a71ceb110f603ffcb47171f020b43a9ea6ca64f1","claim":"AVIS BUDGET GROUP, INC. amended credit facility of reduced by $400 million to $3.21 billion in the case of the Series 2010-6 Notes facility, and by $100 million to $279.3 with unknown at not specified maturing not specified.","evidence_excerpt":"Pursuant to the amendments, the aggregate principal amounts of each facility will be reduced on February 28, 2024, by $400 million to $3.21 billion in the case of the Series 2010-6 Notes facility, and by $100 million to $279.3 million in the case of the Series 2015-3 facility.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"reduced by $400 million to $3.21 billion in the case of the Series 2010-6 Notes facility, and by $100 million to $279.3"},{"label":"Rate","value":"not specified"},{"label":"Maturity","value":"not specified"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"ac11321c36fb45543bdd4347ef3c406579b44c84","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $950.4 million with The Bank of New York Mellon Trust Company, N.A. at 5.36% maturing maturity of five years.","evidence_excerpt":"On January 12, 2024 (the \"Closing Date\"), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (\"ABRCF\") issued $1.2 billion of asset-backed securities with a maturity of five years, comprised of $950.4 million aggregate principal amount of Series 2024-1 5.36%, Class A notes, $151.8 million aggregate principal amount of Series 2024-1 5.85%, Class B notes and $97.8 million aggregate principal amount of Series 2024-1 6.48%, Class C notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$950.4 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"5.36%"},{"label":"Maturity","value":"maturity of five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"beb1f5188ac995916dfb19e26a1584d380130b01","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $151.8 million with The Bank of New York Mellon Trust Company, N.A. at 5.85% maturing maturity of five years.","evidence_excerpt":"On January 12, 2024 (the \"Closing Date\"), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (\"ABRCF\") issued $1.2 billion of asset-backed securities with a maturity of five years, comprised of $950.4 million aggregate principal amount of Series 2024-1 5.36%, Class A notes, $151.8 million aggregate principal amount of Series 2024-1 5.85%, Class B notes and $97.8 million aggregate principal amount of Series 2024-1 6.48%, Class C notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$151.8 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"5.85%"},{"label":"Maturity","value":"maturity of five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e8b079ba7d652607e1b3127b5adfc406e227c644","claim":"AVIS BUDGET GROUP, INC. incurred senior notes of $97.8 million with The Bank of New York Mellon Trust Company, N.A. at 6.48% maturing maturity of five years.","evidence_excerpt":"On January 12, 2024 (the \"Closing Date\"), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (\"ABRCF\") issued $1.2 billion of asset-backed securities with a maturity of five years, comprised of $950.4 million aggregate principal amount of Series 2024-1 5.36%, Class A notes, $151.8 million aggregate principal amount of Series 2024-1 5.85%, Class B notes and $97.8 million aggregate principal amount of Series 2024-1 6.48%, Class C notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$97.8 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"6.48%"},{"label":"Maturity","value":"maturity of five years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"50f7033749c9aa6f2a6ea76762d7fbee618370da","claim":"AVIS BUDGET GROUP, INC. entered into Series 2024-1 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $1.2 billion (effective 2024-01-12).","evidence_excerpt":"The notes were issued under the Series 2024-1 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2024-1 Agent (the “Series","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014224000165/0000950142-24-000165-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":"$1.2 billion"},{"label":"Effective","value":"2024-01-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}