Avis Budget Group Inc.
Avis Budget Group Issues $1.2 Billion in Asset-Backed Securities
Summary
On January 12, 2024, Avis Budget Group, Inc.'s subsidiary Avis Budget Rental Car Funding (AESOP) LLC issued $1.2 billion of asset-backed securities comprised of Class A, B, and C notes with a maturity of five years. Additionally, AESOP LLC amended its asset-backed variable-funding financing facilities, reducing the aggregate principal amounts of the Series 2010-6 Notes facility by $400 million and the Series 2015-3 facility by $100 million. The securities are secured by vehicles in Avis Budget Group's domestic fleet and other related assets. Full details are provided in the filed exhibits.
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Exhibits (3)
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About Avis Budget Group Inc.
Avis Budget Group Inc. is a prominent provider in the vehicle rental and car sharing industry, operating through its well-recognized brands including Avis, Budget, and Zipcar. Its primary function is to offer vehicle leasing services to a variety of customer segments, ranging from individual travelers to large corporate clients. Avis Budget Group significantly impacts the travel and tourism sector, providing essential rental solutions that enhance mobility and convenience for consumers globally. Headquartered in Parsippany, New Jersey, the company maintains a strong presence in over 180 countries, leveraging a comprehensive network that includes on-airport and off-airport locations. Avis Budget Group plays a critical role in the mobility industry, utilizing technology and innovation to streamline the rental experience, such as through mobile app interfaces and automated service offerings. Its strategic position in fleet management and vehicle sales further underscores its importance in the broader transportation market.
Official SEC Documents
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