Entry into a Material Definitive Agreement.
On August 12, 2020, our Avis Budget Rental Car Funding (AESOP)
LLC subsidiary issued $650 million of asset-backed securities
with a maturity of five years, comprised of $542.75 million
aggregate principal amount of Series 2020-2 2.02% Class A notes,
$54.60 million aggregate principal amount of Series
2020-2 2.96% Class B
notes and $52.65 million aggregate principal amount of Series
2020-2 4.25% Class C
notes. Avis Budget Rental Car Funding (AESOP) LLC also issued
$35.75 million aggregate principal amount of Series
2020-2 6.40% Class R
notes, which are subordinated to the Class A, Class B and
Class C notes and which were issued to its sole member, AESOP
Leasing L.P. The notes were issued under the Series 2020-2 Supplement, dated as of
August 12, 2020, between Avis Budget Rental Car Funding
(AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as
trustee and as Series 2020-2 Agent, to the Second Amended and
Restated Base Indenture, dated as of June 3, 2004, as
The notes are secured under the Second Amended and Restated Base
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
2020-2 Supplement, a copy
of which is attached hereto as Exhibit 10.1 and which is
incorporated by reference herein.
Certain purchasers of the notes, 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
Creation of a Direct Financial Obligation or an Obligation under an
Arrangement of a Registrant.
The information described above under Item 1.01 of this report is
incorporated into this Item 2.03 by reference.
Financial Statements and Exhibits.
The following exhibits are filed as part of this report: