Avis Budget Group Enters Material Definitive Agreement

TL;DR

AVIS inked a new material definitive agreement on 9/16, expect financial updates.

AI Summary

On September 16, 2025, Avis Budget Group, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware with EIN 06-0918165, filed this 8-K report on September 19, 2025, detailing the terms of this agreement.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Avis Budget Group, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements can introduce new financial obligations or risks that may not be immediately apparent.

Key Players & Entities

• AVIS BUDGET GROUP, INC. (company) — Registrant
• September 16, 2025 (date) — Date of Earliest Event Reported
• September 19, 2025 (date) — Filing Date
• Delaware (jurisdiction) — State of Incorporation
• 06-0918165 (ein) — Employer Identification Number

FAQ

Key Financial Figures

• $0.01 — h Registered Common Stock, par value $0.01 CAR The Nasdaq Global Select Market
• $793.2 million — (AESOP) LLC subsidiary ("ABRCF") issued $793.2 million of asset-backed securities with a matur
• $199.0 million — five years, respectively, comprised of $199.0 million aggregate principal amount of Series 20
• $29.75 million — of Series 2025-3 4.17%, Class A notes, $29.75 million aggregate principal amount of Series 20
• $21.25 million — of Series 2025-3 4.46%, Class B notes, $21.25 million aggregate principal amount of Series 20
• $33.29 million — Series 2025-3 4.95%, Class C notes and $33.29 million aggregate principal amount of Series 20
• $358.2 million — 2025-3 6.42%, Class D notes, as well as $358.2 million aggregate principal amount of Series 20
• $53.55 million — of Series 2025-4 4.40%, Class A notes, $53.55 million aggregate principal amount of Series 20
• $38.25 million — of Series 2025-4 4.77%, Class B notes, $38.25 million aggregate principal amount of Series 20
• $59.92 million — Series 2025-4 5.26%, Class C notes and $59.92 million aggregate principal amount of Series 20
• $15.6 million — old on a future date. ABRCF also issued $15.6 million aggregate principal amount of Series 20
• $28.1 million — Series 2025-3 8.373%, Class R notes and $28.1 million aggregate principal amount of Series 20

Filing Documents

• eh250678706_8k.htm (8-K) — 28KB
• eh250678706_ex1001.htm (EX-10.1) — 368KB
• eh250678706_ex1002.htm (EX-10.2) — 367KB
• 0000950142-25-002473.txt ( ) — 1053KB
• car-20250916.xsd (EX-101.SCH) — 3KB
• car-20250916_lab.xml (EX-101.LAB) — 33KB
• car-20250916_pre.xml (EX-101.PRE) — 22KB
• eh250678706_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. 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. The Class D notes were retained by ABRCF and may be sold on a future date. ABRCF also issued $15.6 million aggregate principal amount of Series 2025-3 8.373%, Class R notes and $28.1 million aggregate principal amount of Series 2025-4 8.685%, Class R notes, each of which are subordinated to the Class A notes, the Class B notes, the Class C notes and the Class D notes of the respective Series, and which were issued to comply with applicable U.S. risk retention rules. The Class R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under the Series 2025-3 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2025-3 Agent (the "Series 2025-3 Supplement"), to the Second Amended and Restated Base Indenture, dated as of June 3, 2004 (as amended, the "Base Indenture") and the Series 2025-4 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2025-4 Agent (the "

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information described above under Item 1.01 of this report is incorporated into this Item 2.03 by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. The following exhibits are filed as part of this report: Exhibit No. Description 10.1 Series 2025-3 Supplement, dated as of September 16, 2025, between Avis Budget Group, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2025-3 Agent. 10.2 Series 2025-4 Supplement, dated as of September 16, 2025, between Avis Budget Group, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2025-4 Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. AVIS BUDGET GROUP, INC. By: /s/ Jean M. Sera Name: Jean M. Sera Title: Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary Date: September 19, 2025

View Full Filing

View this 8-K filing on SEC EDGAR