Edgar Filing: AVIS BUDGET GROUP, INC.

Form 8-K - AESOP Series 2014-2 Notes

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): July 29, 2014 (July 24, 2014)

Avis Budget Group, Inc.

(Exact name of registrant as specified in its charter)



Delaware	001-10308		06-0918165
(State or Other Jurisdiction of Incorporation)	(Commission File Number)		(IRS Employer Identification Number)

6 Sylvan Way Parsippany, NJ		07054
(Address of Principal Executive Offices)		(Zip Code)

973 496-4700
(Registrant’s telephone number, including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Item 1.01		Entry into a Material Definitive Agreement.

On July 24, 2014, our Avis Budget Rental Car Funding (AESOP) LLC subsidiary (”AESOP”) issued $500 million aggregate principal amount of Series 2014-2 asset-backed securities with a maturity of approximately five years, comprised of $425 million of 2.50% Class A notes and $75 million of 3.29% Class B 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 July 24, 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 2014-2 supplement, a copy of which is attached hereto as Exhibit 10.1 and which is incorporated by reference herein.

Certain purchasers of the Notes, 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.



Item 2.03		Creation of a Direct Financial Obligation or an Obligation under an 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 2014-2 Supplement, dated as of July 24, 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 2014-2 Agent.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.



	AVIS BUDGET GROUP, INC.

	By:	/s/ Bryon L. Koepke
	Name:	Bryon L. Koepke
	Title:	Senior Vice President and Chief Securities Counsel
Date: July 29, 2014

AVIS BUDGET GROUP, INC.

CURRENT REPORT ON FORM 8-K

Report Dated July 29, 2014 (July 24, 2014)

EXHIBIT INDEX



Exhibit No.		Description
10.1		Series 2014-2 Supplement, dated as of July 24, 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 2014-2 Agent.