Hertz Global Announces Intention To Offer $500M In First Lien Senior Secured Notes Due 2029; Pursuing $500M In Annual Cost Initiatives To Reduce DOE Per Transaction Day To Low $30s; Progressing On Previously Announced $350M Cost Savings Initiatives
Portfolio Pulse from Benzinga Newsdesk
Hertz Global Holdings (HTZ) has announced its intention to offer $500 million in first lien senior secured notes due 2029. The company is also pursuing $500 million in annual cost initiatives to reduce DOE per transaction day to the low $30s and is progressing on previously announced $350 million cost savings initiatives.
June 20, 2024 | 12:09 pm
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Hertz Global Holdings (HTZ) is planning to offer $500 million in first lien senior secured notes due 2029. The company is also targeting $500 million in annual cost savings and progressing on $350 million in previously announced cost savings initiatives.
The issuance of $500 million in senior secured notes will provide Hertz with additional liquidity, which is positive for the company's financial stability. The cost-saving initiatives are likely to improve profitability, making the stock more attractive to investors.
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