Hertz discloses $341.1M settlement proposal with cash and debt components

HERTZ GLOBAL HOLDINGS, INC

Settlement amount $341.1M: $327.9M contract rate claim, $10M incremental principal, $3.2M milestone payment.
Consideration: $41.1M cash at close plus $300M new unsecured debt; 8% cash + 3% PIK, matures Sep 2029.
Targeted close May 1, 2025; full releases upon settlement.
Counter-proposal (Feb 6): $68.2M cash down + $272.9M first lien secured note due Dec 2025, 10% coupon.
Filing furnishes settlement proposal and counter-proposal referenced in original Feb 10, 2025 8-K.

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