Hertz raises $750mn in junk-bond sale to strengthen balance sheet after electric vehicle fleet struggles.

Hertz Global Holdings (NASDAQ:HTZ) raises $750mn in junk-bond sale to strengthen balance sheet after electric vehicle fleet struggles. The car rental firm plans to sell $500mn in First Lien Senior Secured Notes due 2029, and $250mn in Exchangeable Senior Second-Lien Secured PIK Notes due 2029, with the proceeds used to pay down a portion of its $2bn committed revolving credit facility. Hertz also plans to accelerate its fleet refresh.

June 20, 2024
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