Hertz Global Holdings (HTZ) said late Thursday its Hertz Corp. unit priced a $500 million private offering of 12.625% first lien senior secured notes due July 15, 2029, at 107.732%, plus applicable interest.
The company expects the offering to close on or about Dec. 12 and plans to use the net proceeds to repay outstanding borrowings under its revolving credit facility, among other things.
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