HERTZ GLOBAL HOLDINGS, INC (HTZ): debt financing — Hertz Vehicle Financing III issues $1B in asset-backed notes across two series

HERTZ GLOBAL HOLDINGS, INC

Series 2023-3: $500M notes with rates 5.94% (Class A) to 9.43% (Class D); Series 2023-4: $500M with rates 6.15% to 9.44%.
Notes are secured by rental car fleet and issued by bankruptcy-remote subsidiary HVF III; THC remains as administrator.
Proceeds partially repaid Series 2021-A variable funding notes; balance for vehicle acquisition or refinancing.
No principal payments due until September 2026 (Series 2023-3) or October 2028 (Series 2023-4) absent an amortization event.
Class structure includes subordination; expected final payment dates range from February 2027 to March 2030.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HERTZ GLOBAL HOLDINGS, INC incurred debt of aggregate principal amount equal to $500,000,000 with The Bank of New York Mellon Trust Company, N.A. maturing March 2030.

Principal: aggregate principal amount equal to $500,000,000
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Maturity: March 2030
Event: incurrence

Exact text from the filing

the Series 2023-4 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C, and Class D, in an aggregate principal amount equal to $500,000,000

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HERTZ GLOBAL HOLDINGS, INC incurred debt of aggregate principal amount equal to $500,000,000 with The Bank of New York Mellon Trust Company, N.A. maturing February 2028.

Principal: aggregate principal amount equal to $500,000,000
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Maturity: February 2028
Event: incurrence

Exact text from the filing

the Series 2023-3 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D, in an aggregate principal amount equal to $500,000,000

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HERTZ GLOBAL HOLDINGS, INC entered into Series 2023-3 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $337,500,000 Series 2023-3 5.94% Rental Car Asset Backed Notes, Class A $55,000,000 Series 2023-3 6. (effective 2023-08-24).

Action: entry
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: $337,500,000 Series 2023-3 5.94% Rental Car Asset Backed Notes, Class A $55,000,000 Series 2023-3 6.
Effective: 2023-08-24

Exact text from the filing

Series 2023-3 Supplement, dated as of August 24, 2023, among Hertz Vehicle Financing III LLC, as issuer, The Hertz Corporation, as administrator, and The Bank of New York Mellon Trust Company, N.A., as trustee.

View on SEC.gov

7 debt financings filed in the last 30 days. Browse all debt financings →

HERTZ GLOBAL HOLDINGS, INC filing history →

Source: SEC EDGAR

accession 0001104659-23-094906

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.