HERTZ GLOBAL HOLDINGS, INC 8K

Hertz is launching a $300 million private offering of exchangeable senior first-lien secured PIK notes due 2030, alongside a contingent $100 million registered share-lending equity offering to facilitate hedging, to raise funds for general corporate purposes including potential debt repayment.

Hertz Global Holdings, Inc. announced that its wholly owned indirect subsidiary, The Hertz Corporation, plans to privately offer $300 million in aggregate principal amount of exchangeable senior first-lien secured PIK notes due 2030, with an option for initial purchasers to buy up to an additional $45 million, in a Rule 144A offering to qualified institutional buyers, with proceeds to be used for general corporate purposes including potential debt repayment. The notes will pay semi-annual interest partly in cash and partly as PIK interest, be exchangeable into cash, Hertz common stock, or a combination (subject to a 19.9% share-cap unless shareholders approve more), and be guaranteed and first-lien secured on a pari passu basis with Hertz’s existing first-lien facilities and notes. Concurrently, Hertz launched a separate registered public offering of $100 million of common stock to be loaned as “Borrowed Shares” to a financial institution under a share lending agreement, with the borrower using those shares to facilitate hedging transactions for note investors via short sales or derivatives, potentially affecting the market prices of the common stock and the notes; Hertz will receive only a nominal lending fee and no offering proceeds from the Borrowed Shares, and the share offering is contingent upon the closing of the notes offering, though not vice versa.

Filing Facts

CIK

1657853

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-077058

Alert Tier

7