Reported 8 months ago
Hertz Global Holdings intends to raise $750 million through a two-part secured notes offering to improve its balance sheet following losses from its electric vehicles venture. The car rental firm will use the proceeds to pay down part of its revolving credit facility and enhance liquidity. Amid weak EV demand, Hertz plans to sell more EVs and expects elevated vehicle depreciation to continue in 2024, projecting a loss of $435 million to $495 million in the second quarter.
Source: YAHOO