---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-25-001422"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2025-05-19T23:59:59+00:00"
generated_at: "2026-05-21T02:26:08.803494+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Avis Budget issues $600M of 8.375% Senior Notes due 2032 for refinancing

## Summary
- Issued $600M of 8.375% Senior Notes due June 15, 2032; interest payable semi-annually starting Dec 15, 2025.
- Proceeds to repay floating rate term loan A due Dec 2025, fleet debt, and part of 5.75% Senior Notes due 2027.
- Notes are senior unsecured, guaranteed by parent Avis Budget Group and certain domestic subsidiaries.
- Issuers may redeem notes at any time before June 15, 2028 at make-whole premium; thereafter at specified prices.
- Change of control triggers repurchase offer at 101% of principal plus accrued interest to repurchase date.

## SEC filing metadata
- accession: 0000950142-25-001422
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2025-05-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014225001422/0000950142-25-001422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014225001422/eh250629084_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-001422
- JSON: https://secwatch.observer/filing/0000950142-25-001422.json
- Plain text: https://secwatch.observer/filing/0000950142-25-001422.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.