---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-012134"
form_type: "8-K"
ticker: "HTZ"
cik: "0001657853"
company_name: "HERTZ GLOBAL HOLDINGS, INC"
filed_at: "2025-09-24T23:59:59+00:00"
generated_at: "2026-05-17T05:47:44.237421+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Hertz Corp. announces $250M exchangeable notes offering due 2030, proceeds to repay 2026 senior notes

## Summary
- $250M aggregate principal of Exchangeable Senior Notes due 2030, plus $37.5M option for additional.
- Notes exchangeable into cash, HTZ common stock, or combination; interest rate and exchange rate to be set.
- Proceeds to partially redeem/repurchase Senior Notes due 2026 before Dec 31, 2025.
- Pershing Square affiliate enters total return swap for ~$100M notional HTZ stock exposure; not party to offering.
- Capped call transactions planned to offset dilution and potential cash payments on exchange.

## SEC filing metadata
- accession: 0000950103-25-012134
- form_type: 8-K
- ticker: HTZ
- cik: 0001657853
- company_name: HERTZ GLOBAL HOLDINGS, INC
- filed_at: 2025-09-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1657853/000095010325012134/0000950103-25-012134-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/47129/000095010325012134/dp234807_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-012134
- JSON: https://secwatch.observer/filing/0000950103-25-012134.json
- Plain text: https://secwatch.observer/filing/0000950103-25-012134.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.