---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-25-001547"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2025-06-02T23:59:59+00:00"
generated_at: "2026-05-20T03:34:31.980673+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950142-25-001547
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2025-06-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014225001547/0000950142-25-001547-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014225001547/eh250634027_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-001547
- JSON: https://secwatch.observer/filing/0000950142-25-001547.json
- Plain text: https://secwatch.observer/filing/0000950142-25-001547.txt

## Key facts
- Debt Financings
  AVIS BUDGET GROUP, INC. incurred debt of $736.5 million of asset-backed securities with The Bank of New York Mellon Trust Company, N.A. maturing three years and five years, respectively.
  - Principal: $736.5 million of asset-backed securities
  - Counterparty: The Bank of New York Mellon Trust Company, N.A.
  - Maturity: three years and five years, respectively
  - Event: incurrence
  source text: On May 28, 2025 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $736.5 million of asset-backed securities with a maturity of three years and five years, respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/723612/000095014225001547/0000950142-25-001547-index.htm

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