Hertz Global Holdings, Inc. (HTZ), a rental car company, said on Thursday that its wholly-owned indirect subsidiary, The Hertz Corporation, has inked a deal to sell $375 million in aggregate principal amount of 5.500% exchangeable senior notes due 2030.
With this, the private offering was increased from the previously announced $250 million.
The company has also granted the initial purchasers of the notes an option to purchase up to an additional $50 million of notes. The offering is expected to close on or about September 29.
The net proceeds from the offering are anticipated to be $360.13 million, or around $408.38 million if the initial purchasers exercise their option in full to purchase the additional notes.
Hertz intends to use the net proceeds to fund the cost of entering into the capped call transactions and to fund the partial redemption or repurchase of its outstanding senior notes due 2026 on or before December 31. The remaining net proceeds will be used for general corporate purposes.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.