---
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"
generated_at: "2026-05-17T06:10:15.039538+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Avis Budget issues $793.2M in asset-backed notes across two series with 3- and 5-year maturities

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-002473
- JSON: https://secwatch.observer/filing/0000950142-25-002473.json
- Plain text: https://secwatch.observer/filing/0000950142-25-002473.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/723612/000095014225002473/0000950142-25-002473-index.htm

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