Avis Budget Group Inc.
Avis Budget Group Subsidiary Issues $668.20 Million in Asset-Backed Securities
Summary
On March 11, 2026, Avis Budget Rental Car Funding (AESOP) LLC, a subsidiary of Avis Budget Group, Inc., issued $668.20 million of asset-backed securities with maturities of three and five years. The securities, consisting of various classes of notes, were issued under two supplements to the Base Indenture and are secured by vehicles in the company's domestic fleet and other related assets. This issuance represents a significant financial transaction for the company, creating a direct financial obligation and affecting its balance sheet.
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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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