Hertz Corp. amends credit facility, adds $500M in incremental term loans

HERTZ GLOBAL HOLDINGS, INC

The Hertz Corporation borrowed $500M in incremental term B loans under its First Lien Credit Facility.
Interest is alternate base rate + 2.75% or term SOFR + 3.75%, at THC's option.
Proceeds will repay existing revolving loans and fund working capital and general corporate purposes.
Quarterly principal repayments begin March 31, 2024, at 0.25% of original principal each quarter.
Incremental term loans mature on June 30, 2028.

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 Amendment No. 7 to Credit Agreement with Barclays Bank PLC, as administrative agent valued at $500 million (effective 2023-11-17).

Action: amendment
Agreement: credit facility
Counterparty: Barclays Bank PLC, as administrative agent
Value: $500 million
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023, The Hertz Corporation (“ THC ”) entered into Amendment No. 7 to Credit Agreement (“ Amendment No. 7 ”), by and among THC, the subsidiary borrowers party thereto as borrowers from time to time (the “ Subsidiary Borrowers ”), Rental Car Intermediate Holdings, LLC, the other guarantors party thereto and Barclays Bank PLC, as administrative agent (the “ Administrative Agent ”) and a 2023 Incremental Term Lender (as defined therein), which amends that certain Credit Agreement, dated as of June 30, 2021

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HERTZ GLOBAL HOLDINGS, INC filing history →

Source: SEC EDGAR

accession 0001657853-23-000166

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