Hertz increases European ABS facility to €1.2B and extends maturity to March 2026

HERTZ GLOBAL HOLDINGS, INC

Aggregate maximum borrowings under European ABS increased from €1.1B to €1.2B.
Maturity extended from November 2024 to March 2026, providing ~16 months additional runway.
Amendments effective September 22, 2023, also include other operational flexibility changes.
Facility supports rental-vehicle fleet financing in France, Netherlands, Germany, Spain, and Italy.

Key facts

Extracted from this filing and checked against the source text.

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

HERTZ GLOBAL HOLDINGS, INC amended Issuer Facility Agreement with International Fleet Financing No. 2 B.V., Hertz Europe Limited, BNPP Paribas Trust Corporation UK Limited, Credit Agricole Corporate and Investment Bank valued at increase the aggregate maximum borrowings thereunder from €1.1 billion to €1.2 billion (effective 2023-09-22).

Action: amendment
Agreement: credit facility
Counterparty: International Fleet Financing No. 2 B.V., Hertz Europe Limited, BNPP Paribas Trust Corporation UK Limited, Credit Agricole Corporate and Investment Bank
Value: increase the aggregate maximum borrowings thereunder from €1.1 billion to €1.2 billion
Effective: 2023-09-22

Exact text from the filing

2 ”), an indirect, special purpose subsidiary of Hertz, is party to an issuer facility agreement originally dated September 25, 2018 between, among others, IFF No.

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

HERTZ GLOBAL HOLDINGS, INC amended Master Definitions and Constructions Agreement with International Fleet Financing No. 2 B.V., Hertz Europe Limited, BNPP Paribas Trust Corporation UK Limited, Credit Agricole Corporate and Investment Bank (effective 2023-09-22).

Action: amendment
Agreement: credit facility
Counterparty: International Fleet Financing No. 2 B.V., Hertz Europe Limited, BNPP Paribas Trust Corporation UK Limited, Credit Agricole Corporate and Investment Bank
Effective: 2023-09-22

Exact text from the filing

In connection with the Amendments, each of the Issuer Facility Agreement and the MDCA were amended effective as of September 22, 2023.

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Source: SEC EDGAR

accession 0001657853-23-000115

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