---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-25-001969"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2025-07-21T23:59:59+00:00"
generated_at: "2026-05-18T05:24:43.330515+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Avis Budget refinances $1.149B term loans with repriced facility due 2032

## Summary
- New Tranche B Term Loans of $1,148,864,850 to repay existing tranche B term loans outstanding.
- New loans mature July 16, 2032; interest at SOFR + 2.50% or base rate + 1.50% per annum.
- 1.00% premium applies on any prepayment due to repricing within 6 months of closing.
- JPMorgan Chase Bank, N.A. acts as Administrative Agent; several banks as joint lead arrangers.

## SEC filing metadata
- accession: 0000950142-25-001969
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2025-07-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014225001969/0000950142-25-001969-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014225001969/eh250655388_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-001969
- JSON: https://secwatch.observer/filing/0000950142-25-001969.json
- Plain text: https://secwatch.observer/filing/0000950142-25-001969.txt

## Key facts
- Debt Financings
  AVIS BUDGET GROUP, INC. amended credit facility of $1,148,846,850 with JPMorgan Chase Bank, N.A., as Administrative Agent and the other lenders party thereto at secure overnight financing rate plus a margin of 2.50% per annum or an alternate maturing July 16, 2032.
  - Instrument: credit facility
  - Principal: $1,148,846,850
  - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent and the other lenders party thereto
  - Rate: secure overnight financing rate plus a margin of 2.50% per annum or an alternate
  - Maturity: July 16, 2032
  - Event: amendment
  source text: Agreement”). On the Closing Date, pursuant to the Tenth Amendment, the Borrower refinanced the existing tranche B term loans under the Sixth A&R Credit Agreement (of which $1,148,846,850 was outstanding immediately prior to the Closing Date) with repriced $1,148,846,850 tranche B term loans (the “New Tranche B Term Loans”). The New Tranche B Term Loans will mature
  evidence_url: https://www.sec.gov/Archives/edgar/data/723612/000095014225001969/0000950142-25-001969-index.htm

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