8-K
filed March 2, 2023, 6:59 PM ET
ticker HTZ
CIK 0001657853
debt
confidence high
sentiment neutral
materiality 0.55
Hertz subsidiary issues $760M in asset-backed notes across two series
HERTZ GLOBAL HOLDINGS, INC
- Series 2023-1: $460M (Class A 5.49%, B 6.22%, C 6.91%, D 9.13%); Series 2023-2: $300M (A 5.57%, B 6.49%, C 7.13%, D 9.40%).
- Proceeds used to repay Series 2021-A notes; excess capacity to fund eligible vehicles including zero-emissions vehicles.
- Hertz purchased $40M of Series 2023-1 Class D notes; notes are subordinated within each series.
- Expected final payment June 2026 (Series 2023-1) and Sept 2028 (Series 2023-2); legal final June 2027 and Sept 2029.
- Amortization events could accelerate principal payments; no principal due until Jan 2026 (Series 2023-1) and Apr 2028 (Series 2023-2).
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
HERTZ GLOBAL HOLDINGS, INC entered into Series 2023-2 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $300.0 million (effective 2023-03-02).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- The Bank of New York Mellon Trust Company, N.A.
- Value
- $300.0 million
- Effective
- 2023-03-02
Exact text from the filing
• $300.0 million in aggregate principal amount of Series 2023-2 Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D (collectively, the “ Series 2023-2 Notes ” and, together with the Series 2023-1 Notes, the “ Series 2023 Notes ”) issued pursuant to the Series 2023-2 Supplement (the “ Series 2023-2 Supplement ”), dated as of March 2, 2023, among HVF III, as issuer, Hertz, as administrator, and BNYM, as trustee, to the Base Indenture.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
HERTZ GLOBAL HOLDINGS, INC entered into Series 2023-1 Supplement with The Bank of New York Mellon Trust Company, N.A. valued at $460.0 million (effective 2023-03-02).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- The Bank of New York Mellon Trust Company, N.A.
- Value
- $460.0 million
- Effective
- 2023-03-02
Exact text from the filing
• $460.0 million in aggregate principal amount of Series 2023-1 Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D (collectively, the “ Series 2023-1 Notes ”), issued pursuant to the Series 2023-1 Supplement (the “ Series 2023-1 Supplement ”), dated as of March 2, 2023, among HVF III, as issuer, Hertz, as administrator, and The Bank of New York Mellon Trust Company, N.A. (“ BNYM ”), as trustee, to the Base Indenture (as amended by Amendment No. 1 to the Base Indenture, dated as of June 27, 2022, which was previously filed as Exhibit 10.3 to Hertz’s Quarterly Report on Form 10-Q filed on July 28, 2022, the “ Base Indenture ”), dated as of June 29, 2021, which was previously filed as Exhibit 10.7 to Hertz’s Current Report on Form 8-K filed on July 7, 2021, and
View on SEC.gov
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.