India, June 24 -- Hertz Global Holdings, Inc. (HTZ), a vehicle rental company, Wednesday announced that its subsidiary, The Hertz Corporation, intends to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030 in a private offering.
Hertz Corp also expects to grant initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $45 million in aggregate principal amount of Notes, the company said in a statement.
The net proceeds received from the private offering will be used for repayment of outstanding indebtedness and general corporate purposes.
The notes will bear interest semi annually in arrears paya...