Hertz launches $500M addl 12.625% First Lien Notes offering; consent solicitations for existing notes

HERTZ GLOBAL HOLDINGS, INC

Offering of $500M of 12.625% First Lien Senior Secured Notes due 2029, increasing total to $1.25B outstanding.
Net proceeds to repay revolver borrowings and pay consent fees and expenses of concurrent consent solicitations.
Consent solicitation seeks amendments to indentures for existing 12.625% First Lien Notes and 8% Exchangeable Notes; fees $11.25/$1,000 and $17.50/$1,000 respectively.
Consent solicitations expire Dec 12, 2024; condition on offering completion; company has non-binding indications exceeding required 60% thresholds.

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