COMPANY INFO
Hertz Global Holdings, Inc., originally founded as Rent-a-Car Inc. in 1918 by Walter L. Jacobs, is an American car rental company headquartered in Estero, Florida. With approximately 27,000 employees as of 2023, Hertz operates globally in the car rental and leasing industry, offering vehicle rental services through its Hertz, Dollar, Thrifty, and Firefly brands, along with car sales and car sharing services via its website hertz.com.
Hertz Global Holdings, Inc., founded in 1918 by Walter L. Jacobs, is a leading company in the car rental and leasing industry. Headquartered in Estero, Florida, Hertz operates globally, offering a range of vehicle rental services through its Hertz, Dollar, Thrifty, and Firefly brands. In addition to traditional rental solutions, the company provides car sales and car sharing services, employing approximately 27,000 people as of 2023.
Hertz Global Holdings, Inc. has a robust funding history centered around large-scale debt capital and credit facilities. Over the years, the company has raised an estimated $5.685 billion through strategic funding rounds, primarily to strengthen liquidity, refinance debt, and support its extensive vehicle fleet. The funding strategy for Hertz Global Holdings, Inc. focuses on securing institutional capital through revolving credit facilities, vehicle funding notes, and asset-backed securities. Key milestones include refinancing events and amended credit facilities that align with the company’s operational needs and global expansion efforts. With multiple funding rounds and a diversified investor base, Hertz has established itself as a long-standing leader in the mobility sector.
Hertz completed an amendment of its credit facilities to extend and enhance funding commitments, supporting general corporate purposes, liquidity, fleet expansion, and European operations.
This initial issuance of First Lien Senior Secured Notes at 12.625% was designed to refinance existing debt and further strengthen the company’s liquidity position.
An additional offering of senior secured notes targeted repayment of revolving credit facility borrowings and related expenses, further fortifying Hertz’s refinancing and working capital capabilities.
A cohort of institutional lenders provided substantial funding via secured credit facilities, enabling Hertz to refinance existing obligations and ensure strong liquidity.
Investors in the HVF III U.S. Vehicle Variable Funding Notes are critical to Hertz’s ability to finance and expand its extensive U.S. vehicle fleet.
These investors support Hertz’s European operations by participating in the company’s asset-backed securities program, allowing for competitive funding and efficient fleet management within Europe.
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