{"schema_version":"secwatch.filing_event.v1","accession":"0000950142-26-000034","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2026-01-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.585556+00:00","generated_at":"2026-05-16T11:45:46.169192+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Avis Budget issues $965M ABS notes; repays existing $965M AESOP notes","bullets":["Issued $965M in three tranches: $844M floating-rate Class A, $44M 5.65% Class B, $77M 7.35% Class C.","Notes mature June 20, 2028 under Series 2025-1 supplement and Base Indenture secured by fleet assets.","Proceeds used to repay $906M of Series 2010-6 and $59M of Series 2015-3 AESOP notes on Dec 31, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0000950142-26-000034","json":"https://secwatch.observer/filing/0000950142-26-000034.json","markdown":"https://secwatch.observer/filing/0000950142-26-000034.md","text":"https://secwatch.observer/filing/0000950142-26-000034.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/eh260721539_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T11:45:46.169192+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":"c5c77ad20f4051299ae149ff6ea9f16c4865ef91","claim":"AVIS BUDGET GROUP, INC. incurred credit facility of $965 million with The Bank of New York Mellon Trust Company, N.A. at floating rate Class A Notes, 5.65% Class B Notes and 7.35% Class C Notes maturing June 20, 2028.","evidence_excerpt":"On December 30, 2025 (the “Closing Date”), our Interpace Funding LLC subsidiary (“Interpace Funding”) issued $965 million of alternative funding asset-backed securities with a targeted two-year term and a maturity date of June 20, 2028, comprised of approximately $844 million of floating rate Class A Notes, $44 million of 5.65% Class B Notes and $77 million of 7.35% Class C Notes.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$965 million"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Rate","value":"floating rate Class A Notes, 5.65% Class B Notes and 7.35% Class C Notes"},{"label":"Maturity","value":"June 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"47a39359ec2ef78b072ef15de2558389bcba12d3","claim":"AVIS BUDGET GROUP, INC. entered into Series 2025-1 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $965 million (effective 2025-12-30).","evidence_excerpt":"The notes were issued under the Series 2025-1 Supplement, dated as of the Closing Date, between Interpace Funding and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”) and","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"The Bank of New York Mellon Trust Company, N.A."},{"label":"Value","value":"$965 million"},{"label":"Effective","value":"2025-12-30"}],"fact_type":"material_agreement"},{"claim_id":"5ea0f4e505808d0fc4d838c31d89ffb214c3e32a","claim":"AVIS BUDGET GROUP, INC. terminated a credit facility valued at $965 million (effective 2025-12-31).","evidence_excerpt":"on December 31, 2025, we repaid an aggregate amount of $965 million of notes issued by our Avis Budget Rental Car Funding (AESOP) LLC subsidiary pursuant to certain asset-backed variable funding financing facilities","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Value","value":"$965 million"},{"label":"Effective","value":"2025-12-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}