Reported 8 months ago
Hertz Global Holdings Inc. increased a junk-bond sale from $750 million to $1 billion to improve its financial position after setbacks with its electric vehicle fleet. The company priced $750 million of first-lien secured notes at 12.625% and is also selling $250 million of second-lien exchangeable notes. The firm received commitments from investors to purchase the bonds. The proceeds will be used to pay down debt and accelerate a planned fleet refresh.
Source: YAHOO