Hertz unit sells USD 350 million of 6.75% exchangeable senior first-lien secured PIK notes due 2030

HERTZ GLOBAL HOLDINGS, INC.

HERTZ GLOBAL HOLDINGS, INC.

HTZ

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  • Hertz Global priced USD 350 million of 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030.
  • Deal includes an option for initial purchasers to buy up to an additional USD 50 million within 13 days.
  • Notes pay semiannual interest starting Jan. 1, 2027, split between 3.375% cash interest and 3.375% PIK interest.
  • Exchange rate set at 279 shares per USD 1,000 principal amount, implying an initial exchange price of about USD 3.58 per share.
  • Hertz Corp. cannot redeem the notes before Jan. 6, 2029.


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