Avis Budget Group, Inc. (NASDAQ:CAR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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subsidiary issued $600 million of asset-backed securities with a
maturity of five years, comprised of approximately $481.3 million
aggregate principal amount of Series 2017-1 3.07% Class A notes,
$70.4 million aggregate principal amount of Series 2017-1 3.41%
Class B notes and $48.3 million aggregate principal amount of
Series 2017-1 4.15% Class C notes. The issuer also issued $33.1
million aggregate principal amount of Series 2017-1 6.75% Class R
notes, which are subordinated to the Class A, Class B and Class C
notes and which were issued to its sole shareholder, AESOP
Leasing L.P. The notes were issued under the Series 2017-1
Supplement dated March 15, 2017, between Avis Budget Rental Car
Funding (AESOP) LLC and The Bank of New York Mellon Trust
Company, N.A. as trustee and as Series 2017-1 Agent, to the
Second Amended and Restated Base Indenture, dated as of June 3,
2004, as amended.
Indenture primarily by vehicles in our domestic fleet and other
related assets. The foregoing summary of the notes is qualified
in its entirety by reference to the full text of the Series
2017-1 Supplement, a copy of which is attached hereto as Exhibit
10.1 and which is incorporated by reference herein.
respective affiliates, have performed and may in the future
perform, various commercial banking, investment banking and other
financial advisory services for us and our subsidiaries for which
they have received, and will receive, customary fees and
expenses.
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Item 2.03
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
incorporated into this Item 2.03 by reference.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Series 2017-1 Supplement, dated as of March 15, 2017,
between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2017-1 Agent. |
About Avis Budget Group, Inc. (NASDAQ:CAR)
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. It operates in two segments: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets. Avis Budget Group, Inc. (NASDAQ:CAR) Recent Trading Information
Avis Budget Group, Inc. (NASDAQ:CAR) closed its last trading session down -2.48 at 29.55 with 1,807,031 shares trading hands.
