Financing ·
The Hertz Corporation completed an offering of $350,000,000 in 6.75% Exchangeable Senior First-Lien Secured PIK Notes…
HTZHertz Global Holdings, Inc
The Hertz Corporation completed an offering of $350,000,000 in 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030. The notes bear interest at 6.75% per year, consisting of 3.375% cash and 3.375% PIK interest, payable semi-annually. The initial exchange rate is 279.5248 shares of common stock per $1,000 principal amount, representing an initial exchange price of approximately $3.58 per share. Hertz Global Holdings, Inc. operates in the vehicle rental industry.