HERTZ GLOBAL HOLDINGS, INC 8K

Hertz Global Holdings’ subsidiary The Hertz Corporation priced an upsized $350 million first-lien exchangeable PIK notes offering due 2030, with proceeds to repay revolver debt and a concurrent share-lending equity offering to support note investor hedging.

On June 25, 2026, Hertz Global Holdings, Inc. announced that its wholly owned indirect subsidiary, The Hertz Corporation, priced an upsized private Rule 144A offering of $350 million aggregate principal amount of 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030, with an option for initial purchasers to buy up to an additional $50 million, and expects to close the transaction on or about June 29, 2026; Hertz Corp. expects net proceeds of approximately $339.5 million (or $388.0 million if the option is fully exercised), which it intends to use to repay borrowings under its revolving credit facility and for general corporate purposes, and the notes will be exchangeable into cash, Hertz common stock, or a combination thereof at an initial exchange rate of 279.5248 shares per $1,000 principal (approximately $3.58 per share), subject to a 19.9% share cap absent stockholder approval, secured on a first-lien basis and guaranteed by the parent and certain subsidiaries, and accompanied by a concurrent contingent registered public offering of 37,037,037 loaned “Borrowed Shares” to facilitate hedging by note investors.

Filing Facts

CIK

1657853

Ticker

-

Form

8K

Source Type

fda

Accession

0001104659-26-077511

Alert Tier

7