Avis Budget AESOP unit issues $650 million of five-year asset-backed notes
CAR•Avis Budget’s AESOP unit priced $650 million of five-year asset-backed securities on Sept. 21, 2026, secured by vehicles in its domestic fleet. The deal included $474.5 million of Class A notes at 5.69% and $35.75 million of Class R notes at 9.598%.
1. Notes secured by fleet
Avis Budget Rental Car Funding, the company’s AESOP unit, priced $650 million of five-year asset-backed securities on Sept. 21, 2026. The deal included $474.5 million of 5.69% Class A notes and $35.75 million of 9.598% Class R notes, which AESOP Leasing held for U.S. risk-retention compliance. The notes are secured by vehicles in Avis Budget’s domestic fleet and related assets; the transaction also triggered technical amendments to certain fleet financing documents.
