{"schema_version":"secwatch.filing_event.v1","accession":"0000950142-25-002473","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2025-09-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.234280+00:00","generated_at":"2026-05-17T06:10:15.039538+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Avis Budget issues $793.2M in asset-backed notes across two series with 3- and 5-year maturities","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0000950142-25-002473","json":"https://secwatch.observer/filing/0000950142-25-002473.json","markdown":"https://secwatch.observer/filing/0000950142-25-002473.md","text":"https://secwatch.observer/filing/0000950142-25-002473.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000095014225002473/0000950142-25-002473-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000095014225002473/eh250678706_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T06:10:15.039538+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9336b65d15597ecd53405550cdd4694d59182015","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014225002473/0000950142-25-002473-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$793.2 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Maturity","value":"three years and five years, respectively"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}