Hertz issues $750M 12.625% first lien notes and $250M 8% exchangeable notes; proceeds used to pay down revolver

HERTZ GLOBAL HOLDINGS, INC

$750M First Lien Senior Secured Notes due 2029 at 12.625% interest, issued at par.
$250M Exchangeable Senior Second-Lien Secured PIK Notes due 2029 at 8% PIK, exchangeable at ~$6.625/shr (89% premium).
Proceeds used to reduce borrowings under $2.0B revolver; revolver remains available with unchanged commitments.
European ABS amended to add Belgian fleet assets; aggregate borrowing capacity unchanged.
Up to ~105.8M shares may be issued upon exchange of exchangeable notes (based on initial exchange rate).

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