Hertz Global Enhances Liquidity with Secured Notes Offering

The latest announcement is out from Hertz Global (HTZ).

Hertz Corporation, a subsidiary of Hertz Global Holdings, has increased its financial flexibility by pricing $750 million in high-yield First Lien Senior Secured Notes and $250 million in Exchangeable Senior Second-Lien Secured Notes, exceeding initial offering sizes. The funds raised are earmarked to repay part of a $2 billion credit facility, bolstering liquidity. These offerings, exclusively available to institutional buyers and certain non-U.S. investors, are set to close on June 28, 2024, without the need for mutual contingency.

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