AVIS BUDGET GROUP, INC. (CAR): debt financing — Avis Budget issues $793.2M in asset-backed notes across two series with 3- and 5-year maturities

AVIS BUDGET GROUP, INC.

Series 2025-3: $199M Class A at 4.17%, $29.75M Class B at 4.46%, $21.25M Class C at 4.95%, $33.29M Class D at 6.42%, $15.6M Class R at 8.373%.
Series 2025-4: $358.2M Class A at 4.40%, $53.55M Class B at 4.77%, $38.25M Class C at 5.26%, $59.92M Class D at 6.72%, $28.1M Class R at 8.685%.
Class D notes retained by issuer; Class R notes held by AESOP Leasing to satisfy risk-retention rules.
Notes secured by domestic fleet vehicles and related assets; proceeds used for fleet financing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVIS BUDGET GROUP, INC. incurred senior notes of $793.2 million with The Bank of New York Mellon Trust Company, N.A. maturing three years and five years, respectively.

Instrument: senior notes
Principal: $793.2 million
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Maturity: three years and five years, respectively
Event: incurrence

Exact text from the filing

On September 16, 2025 (the “Closing Date”), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (“ABRCF”) issued $793.2 million of asset-backed securities with a maturity of three years and five years, respectively, comprised of $199.0 million aggregate principal amount of Series 2025-3 4.17%, Class A notes, $29.75 million aggregate principal amount of Series 2025-3 4.46%, Class B notes, $21.25 million aggregate principal amount of Series 2025-3 4.95%, Class C notes and $33.29 million aggregate principal amount of Series 2025-3 6.42%, Class D notes, as well as $358.2 million aggregate principal amount of Series 2025-4 4.40%, Class A notes, $53.55 million aggregate principal amount of Series 2025-4 4.77%, Class B notes, $38.25 million aggregate principal amount of Series 2025-4 5.26%, Class C notes and $59.92 million aggregate principal amount of Series 2025-4 6.72%, Class D notes.

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Source: SEC EDGAR

accession 0000950142-25-002473

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