---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-012441"
form_type: "8-K"
ticker: "HTZ"
cik: "0001657853"
company_name: "HERTZ GLOBAL HOLDINGS, INC"
filed_at: "2025-09-29T23:59:59+00:00"
generated_at: "2026-05-17T05:24:45.677818+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Hertz Corp. issues $425M 5.5% exchangeable senior notes due 2030; capped calls offset dilution

## Summary
- Issued $425M aggregate principal of 5.500% Exchangeable Senior Notes due 2030, including $50M overallotment.
- Notes exchangeable into cash, HTZ common stock or combination; initial exchange price ~$9.24/share (32.5% premium to $6.97 close).
- Capped call transactions cover up to ~60.98M shares; cap initially at $13.94/share to offset potential dilution.
- Notes are senior unsecured obligations of Hertz Corp., guaranteed by Hertz Global and subsidiary guarantors.

## SEC filing metadata
- accession: 0000950103-25-012441
- form_type: 8-K
- ticker: HTZ
- cik: 0001657853
- company_name: HERTZ GLOBAL HOLDINGS, INC
- filed_at: 2025-09-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1657853/000095010325012441/0000950103-25-012441-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/47129/000095010325012441/dp235086_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-012441
- JSON: https://secwatch.observer/filing/0000950103-25-012441.json
- Plain text: https://secwatch.observer/filing/0000950103-25-012441.txt

## Key facts
- Debt Financings
  HERTZ GLOBAL HOLDINGS, INC incurred senior notes of $425,000,000 aggregate principal amount with Computershare Trust Company, N.A., as trustee at 5.500% per year maturing October 1, 2030.
  - Instrument: senior notes
  - Principal: $425,000,000 aggregate principal amount
  - Counterparty: Computershare Trust Company, N.A., as trustee
  - Rate: 5.500% per year
  - Maturity: October 1, 2030
  - Event: incurrence
  source text: On September 29, 2025, The Hertz Corporation (“Hertz Corp.”), the primary operating company and wholly-owned indirect subsidiary of Hertz Global Holdings, Inc. (the “Company” or “Hertz Holdings”), completed an offering of $425,000,000 aggregate principal amount of its 5.500% Exchangeable Senior Notes due 2030 (the “Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657853/000095010325012441/0000950103-25-012441-index.htm
- Equity Issuances
  HERTZ GLOBAL HOLDINGS, INC issued 60,975,600 shares of Common Stock of common stock to holders of the Notes.
  - Security: common stock
  - Shares: 60,975,600 shares of Common Stock
  - Purchaser: holders of the Notes
  source text: Initially, a maximum of 60,975,600 shares of Common Stock may be issued upon exchange of the Notes
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657853/000095010325012441/0000950103-25-012441-index.htm
- Equity Issuances
  HERTZ GLOBAL HOLDINGS, INC issued convertible note to initial purchasers for $425,000,000 aggregate principal amount.
  - Security: convertible note
  - Purchaser: initial purchasers
  - Consideration: $425,000,000 aggregate principal amount
  source text: (“Hertz Corp.”), the primary operating company and wholly-owned indirect subsidiary of Hertz Global Holdings, Inc. (the “Company” or “Hertz Holdings”), completed an offering of $425,000,000 aggregate principal amount of its 5.500% Exchangeable Senior Notes due 2030 (the “Notes”), which includes the exercise in full of the initial purchasers’ option to purchase up to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657853/000095010325012441/0000950103-25-012441-index.htm

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