Avis Budget Group Inc. has announced the issuance of $736.5 million in asset-backed securities through its subsidiary, Avis Budget Rental Car Funding (AESOP) LLC. The securities, dated May 28, 2025, include various series of notes with maturities spanning three to five years. The issuance comprises $199.0 million of Series 2025-1 Class A notes at 4.80% interest, among other classes with varying interest rates, and Series 2025-2 notes with differing principal amounts and interest rates. These notes are secured by the company's domestic vehicle fleet and related assets. The transaction involves The Bank of New York Mellon Trust Company, N.A., as trustee and agent, and includes a retention of Class D and Class R notes to comply with U.S. risk retention rules. This move is part of Avis Budget Group's ongoing strategy to strengthen its financial positioning through structured financing.
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