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

Avis Budget issues $668.20 million in asset-backed notes secured by fleet vehicles

Neutral Impact 3 of 5 financing Written later

On March 11, 2026, subsidiary Avis Budget Rental Car Funding (AESOP) LLC issued $668.20 million of asset-backed notes in two series, with maturities of three and five years. The notes are secured by vehicles in the company's domestic fleet and related assets, so the filing adds new secured debt for shareholders to weigh, though it reports no change to earnings or guidance.

Key points

  • Notes issued March 11, 2026 under Series 2026-1 and Series 2026-2 supplements to a base indenture dated June 3, 2004
  • Class R notes of $20.62 million (Series 2026-1) and $15.25 million (Series 2026-2) issued for U.S. risk retention rules and held by AESOP Leasing L.P.
  • The Bank of New York Mellon Trust Company, N.A. serves as trustee and series agent; full terms are in Exhibits 10.1 and 10.2

The filing

CompanyAvis Budget (CAR)
Form8-K, current report
Filed with the SECMar 13, 2026, 4:11 PM ET
Accession number0000950142-26-000719

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 March 13, 2026.

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.