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CAR > SEC Filings for CAR > Form 8-K on 18-Feb-2014All Recent SEC Filings

Show all filings for AVIS BUDGET GROUP, INC.

Form 8-K for AVIS BUDGET GROUP, INC.


18-Feb-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhi


Item 1.01 Entry into a Material Definitive Agreement.

On February 12, 2014, our Avis Budget Rental Car Funding (AESOP) LLC subsidiary ("AESOP") issued $650 million aggregate principal amount of Series 2014-1 asset-backed securities with a maturity of approximately five years, comprised of $540 million of 2.46% Class A notes, $82 million of 2.96% Class B notes, and $28 million of 3.75% Class C notes (together, the "Notes"). The Notes are secured primarily by vehicles in our domestic fleet and other related assets. AESOP issued the Notes under a series supplement, dated February 12, 2014, to the base indenture, dated June 3, 2004, that AESOP uses to issue asset-backed notes. The Bank of New York Mellon Trust Company, N.A., as series agent and trustee, is party to the series supplement and the base indenture.

The foregoing summary of the Notes is qualified in its entirety by reference to the full text of the Series 2014-1 supplement, a copy of which is attached hereto as Exhibit 10.1 and which is incorporated by reference herein.

Certain purchasers of the Notes, and the trustee, and their 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.

Creation of a Direct Financial Obligation or an Obligation under an
Item 2.03 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.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed as part of this report:

Exhibit No.     Description
    10.1        Series 2014-1 Supplement, dated as of February 12, 2014, between
                Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New
                York Mellon Trust Company, N.A., as trustee and as Series 2014-1
                Agent.


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