Hertz Announces Pricing of $500 Million of Additional First Lien Senior Secured Notes Offering
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Hertz Global Holdings, Inc. has announced the pricing of $500 million in additional First Lien Senior Secured Notes due 2029, with a 12.625% interest rate. This private offering is exempt from the registration requirements of the Securities Act of 1933.
December 05, 2024 | 10:30 pm
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Hertz Global Holdings has priced $500 million in additional First Lien Senior Secured Notes due 2029 at a 12.625% interest rate. This move is part of a private offering exempt from the Securities Act of 1933.
The issuance of additional secured notes suggests Hertz is raising capital, which could be used for various strategic purposes. The high interest rate indicates a higher cost of borrowing, which might concern investors about the company's financial health. However, the impact on stock price is neutral as it depends on how the funds will be utilized.
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