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AI brief of an SEC Form 8-K · Avis Budget (CAR)

Avis Budget issues $793.2 million in fleet-backed asset-backed notes

Neutral Impact 3 of 5 financing Written later

On September 16, 2025, Avis Budget Rental Car Funding (AESOP) LLC, a subsidiary of Avis Budget Group, issued $793.2 million of asset-backed notes in two series, Series 2025-3 and Series 2025-4, secured by vehicles in its domestic fleet and related assets. The filing describes the notes as a new direct financial obligation of the company, and it discloses the interest rate and principal amount for each class.

Key points

  • Series 2025-3 and Series 2025-4 notes have maturities of three years and five years, respectively.
  • Series 2025-4 Class A notes total $358.2 million at 4.40%; Series 2025-3 Class A notes total $199.0 million at 4.17%.
  • Class D notes were retained by ABRCF and may be sold on a future date; Class R notes were issued to comply with U.S. risk retention rules.
  • The Bank of New York Mellon Trust Company, N.A. serves as trustee and agent for both series.

The filing

CompanyAvis Budget (CAR)
Form8-K, current report
Filed with the SECSep 19, 2025, 4:10 PM ET
Accession number0000950142-25-002473

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 19, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.