Hertz issues $1B in asset-backed notes across two series to finance rental car fleet

HERTZ GLOBAL HOLDINGS, INC

HVF III issued Series 2025-1 and 2025-2 notes, each $500M, with Class A-D notes per series.
Interest rates: Series 2025-1 Class A 4.91% to Class D 7.98%; Series 2025-2 Class A 5.13% to Class D 8.34%.
Expected final payment dates: Sep 2029 (Series 2025-1) and Sep 2031 (Series 2025-2); no principal due until April 2028/2030.
Proceeds used to repay outstanding Series 2021-A notes and for future vehicle acquisitions.
Notes secured by rental car assets; subordination structure with Class A senior to B, C, D.

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