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Hertz Announces Completion of $350 Million of Exchangeable Senior First-Lien Secured PIK Notes

  • Hertz Global Holdings' subsidiary, The Hertz Corporation, completed an offering of $350 million in 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030.
  • Initial purchasers hold an option to acquire up to an additional $50 million of the Exchangeable Notes within 13 calendar days of issuance.
  • The offering strengthens Hertz's liquidity & provides financial flexibility to support its corporate transformation ahead of peak season.
  • CFO Scott Haralson cited strong investor interest as evidence of confidence in Hertz's strategy & execution capabilities.
  • The company emphasized its focus on disciplined capital management & further strengthening its balance sheet.
  • Hertz operates over 11,000 rental locations across 160 countries under brands including Hertz, Dollar, Thrifty, & Firefly.
  • The press release includes standard forward-looking statement cautions referencing risks & the company's Form 10-K filed on February 26, 2026.