Avis Budget Group
Parsippany, United States · Travel · 4 employees
Avis Budget Group, Inc. is a leading global provider of transportation solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in N
Funding history
- Funding Round · $650.0M · Jun 2026
- Funding Round · $965.0M · Jan 2026
Recent signals
- Sep 21, 2026: SEC 8-K (1.01): On September 21, 2026, Avis Budget Group, Inc.'s subsidiary, Avis Budget Rental Car Funding (AESOP) LLC, entered into a material definitive agreement by issuing $650 million of asset-backed securities with a maturity of five years. The issuance includes $474.5 million of Series 2026-5 Class A notes at 5.69%, $61.75 million of Class B notes at 5.95%, $47.125 million of Class C notes at 6.44%, and $66.625 million of Class D notes at 8.14%. Additionally, $35.75 million of subordinated Series 2026-5 Class R notes were issued to meet U.S. risk retention requirements. This financing arrangement is strategically significant as it bolsters the company's capital structure and supports its ongoing operations.
- Sep 01, 2026: Avis Budget Group Announces Departure of Chief Digital & Innovation Officer
- Sep 01, 2026: SEC 8-K (5.02): On September 1, 2026, Avis Budget Group, Inc. announced the departure of Ravi Simhambhatla, Executive Vice President and Chief Digital & Innovation Officer. Mr. Simhambhatla will continue in his role until September 30, 2026, to ensure a smooth transition. The company expressed gratitude for his leadership and contributions over the last four years. This change may impact the company's strategic initiatives in digital transformation and innovation efforts moving forward.
- Jun 12, 2026: Raised $650.0M in Funding Round
- May 30, 2026: Avis Budget Group Appoints Joe Ferraro as Chief Executive Officer
- May 24, 2026: Avis Budget Group and Wyndham Vacation Ownership Announce New Multi-Year Partnership to Enhance Car Rental Services.
- Jan 05, 2026: Raised $965.0M in Funding Round
- Dec 30, 2025: SEC 8-K (1.01): On December 30, 2025, Avis Budget Group, Inc.'s subsidiary, Interpace Funding LLC, entered into a material definitive agreement by issuing $965 million of alternative funding asset-backed securities with a targeted two-year term and a maturity date of June 20, 2028. The issuance includes approximately $844 million of floating rate Class A Notes, $44 million of 5.65% Class B Notes, and $77 million of 7.35% Class C Notes. This transaction is secured by certain vehicles in the domestic fleet and related assets. The agreement highlights strategic financing to enhance the company’s capital structure and operational flexibility.
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