Avis Budget subsidiary issues $736.5M asset-backed notes in two series

AVIS BUDGET GROUP, INC.

ABRCF issued $283.3M Series 2025-1 notes (Class A 4.80%, B 5.24%, C 5.87%, D 7.48%) plus $318.4M Class A, $47.6M B, $34.0M C, $53.26M D in Series 2025-2 (rates 5.12%-7.84%).
Series 2025-1 includes $15.6M 9.424% and Series 2025-2 $25.0M 9.795% subordinated Class R notes held by AESOP Leasing L.P. for risk retention.
Notes are secured by domestic fleet vehicles; Class D notes retained by ABRCF for possible future sale.
Maturities are three years (2025-1) and five years (2025-2); proceeds deposited into collection account as Principal Collections.

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