Herc Holdings proposes $1.2B senior unsecured notes offering to refinance 5.50% notes due 2027

HERC HOLDINGS INC

Offering $1,200M in senior unsecured notes due 2031/2034, with proceeds to redeem all $1.2B 5.50% Senior Notes due 2027.
Pro forma combined results with H&E: nine months ended Sep 30, 2025 net loss $148M ($4.46 diluted EPS); 2024 net income $110M ($3.32 EPS).
Total purchase price for H&E acquisition $4.816B, including $2.869B cash and $584M Herc stock, financed with new debt and ABL borrowings.
Interest expense pro forma adjustment assumes 6.6% weighted-average rate on new debt; 100bp rate hike would increase annual interest by ~$43M.
Notes offered under Rule 144A/Reg S, not registered; guarantees from domestic subsidiaries including Herc Rentals Inc.

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