---
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"
generated_at: "2026-05-16T11:45:46.169192+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Avis Budget issues $965M ABS notes; repays existing $965M AESOP notes

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-26-000034
- JSON: https://secwatch.observer/filing/0000950142-26-000034.json
- Plain text: https://secwatch.observer/filing/0000950142-26-000034.txt

## Key facts
- Debt Financings
  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.
  - Instrument: credit facility
  - Principal: $965 million
  - Counterparty: The Bank of New York Mellon Trust Company, N.A.
  - Rate: floating rate Class A Notes, 5.65% Class B Notes and 7.35% Class C Notes
  - Maturity: June 20, 2028
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon Trust Company, N.A.
  - Value: $965 million
  - Effective: 2025-12-30
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm
- Material Agreements
  AVIS BUDGET GROUP, INC. terminated a credit facility valued at $965 million (effective 2025-12-31).
  - Action: termination
  - Agreement: credit facility
  - Value: $965 million
  - Effective: 2025-12-31
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/723612/000095014226000034/0000950142-26-000034-index.htm

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