Hertz Reveals Upsize And Pricing Of $1B Offerings: Company Intends To Use Net Proceeds Of Offerings To Pay Down A Portion Of Its $2.0B Committed Revolving Credit Facility, Improving Liquidity
Portfolio Pulse from Benzinga Newsdesk
Hertz has announced the upsize and pricing of its $1 billion offerings. The company plans to use the net proceeds to pay down a portion of its $2 billion committed revolving credit facility, which will improve its liquidity.
June 21, 2024 | 11:09 am
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Hertz has announced the upsize and pricing of its $1 billion offerings. The company plans to use the net proceeds to pay down a portion of its $2 billion committed revolving credit facility, which will improve its liquidity.
The announcement of the $1 billion offerings and the intention to use the proceeds to pay down debt will likely improve Hertz's liquidity position. This is a positive development for the company's financial health, which could lead to a short-term increase in its stock price.
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