Hertz Global Launches Debt Offering Of $750 Mln; Stock Down

(RTTNews) - Hertz Global Holdings, Inc. (HTZ), Thursday announced the launch of First Lien Senior Secured Notes of $500 million and Exchangeable Senior Second-Lien Secured PIK Notes of $250 million, both maturing in 2029.

The rental and leasing service provider intends to use the proceeds for paying off a portion of revolving credit facility of $2 billion, and improving liquidity.

Additionally, the company has received offers from CK Amarillo LP and another investor to purchase notes worth $250 million.

Currently, Hertz's stock is falling 3.72 percent, to $2.975 on the Nasdaq.