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Hertz Announces Committed Offerings Totaling $750 Million

Hertz Announces Committed Offerings Totaling $750 Million

赫茲宣佈承諾發行總額達7.5億美元的債券
PR Newswire ·  06/20 19:44

Comprised of $500 Million of First Lien Senior Secured Notes and $250 Million of Exchangeable Senior Second-Lien Secured PIK Notes Issued by The Hertz Corporation

由$500 Million的一級優先擔保票據和$250 Million的可交換式二級優先擔保 PIK票據構成,由赫茲公司發行

ESTERO, Fla., June 20, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp."), intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of First Lien Senior Secured Notes due 2029 (the "First Lien Notes") and $250 million in aggregate principal amount of Exchangeable Senior Second-Lien Secured PIK Notes due 2029 (the "Exchangeable Notes" and, together with the First Lien Notes, the "Notes"), in private offerings exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

2024年6月20日佛羅里達州埃斯特羅/美通社——全球領先的汽車租賃公司赫茲環球控股公司(納斯達克代碼:HTZ,以下簡稱"赫茲"或"公司")旗下的全資間接子公司——赫茲公司(以下簡稱 "赫茲公司"),打算在市場和其他條件的限制下,進行$500 million的第一優先擔保票據(“一級擔保票據”) 和$250 Million的可交換式二級優先擔保 PIK票據(“可交換式票據” 和一級擔保票據一起簡稱 “票據”)

Concurrently with the offerings of the Notes, investors affiliated with CK Amarillo LP have committed to Hertz Corp. and an investor has provided a firm commitment to an initial purchaser to purchase up to $250 million aggregate principal amount of Exchangeable Notes. In addition, Hertz Corp. has received a backstop commitment to purchase up to $500 million aggregate principal amount of First Lien Notes.

與票據的發行同時,CK Amarillo LP旗下的投資者已承諾向赫茲公司購買總額高達$250 million可交換式票據。此外,赫茲公司已獲得一項達到$500 million的一級擔保票據的回購承諾

Hertz Corp. intends to use the net proceeds of the offerings to pay down a portion of its $2.0 billion committed revolving credit facility, improving liquidity. The completion of the offering of the First Lien Notes and the completion of the offering of the Exchangeable Notes are not contingent on each other.

赫茲公司計劃使用此次發行的淨收益償還其20億美元承諾的循環信貸配額,提高流動性。一級擔保票據的發行完成以及可交換式票據的發行完成並不相互依存

The Exchangeable Notes will bear PIK interest payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. Hertz Corp. expects that the initial exchange price for the Exchangeable Notes will be at a 100% premium to the volume-weighted average price of the common stock of the Company ("Common Stock") on the date of pricing of the Exchangeable Notes, but in no event greater than $7.00 or less than $6.00 per share of Common Stock. The interest rate and certain other terms of the Exchangeable Notes will be determined by negotiations between Hertz Corp. and the initial purchasers. The Exchangeable Notes will mature on June 15, 2029, unless repurchased, redeemed or exchanged in accordance with their terms prior to maturity. Prior to March 15, 2029, the Exchangeable Notes will be exchangeable only upon satisfaction of certain conditions and during certain periods, and thereafter, the Exchangeable Notes will be exchangeable at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Exchangeable Notes will be exchangeable on the terms set forth in the indenture into cash, shares of Common Stock, or a combination thereof, at Hertz Corp.'s election.

可交換式票據將在每年6月15日和12月15日向後付款支付PIK利息。赫茲公司預計可交換票據的初始兌換價格將達到公司common stock(“普通股票”)發行日的成交量加權平均價格的100%,但絕對不高於每股普通股票的7.00美元, 低於每股普通股票的6.00美元。可交換票據的利率和某些其他條款將由赫茲公司和初始買入者協商確定。可交換票據將於2029年6月15日到期,除非在到期前根據其條款被回購、贖回或交換。在2029年3月15日之前,可交換票據僅在滿足某些條件的情況下並在某些時期內可以交換;之後,可交換票據將在到期日前第二個交易日結束營業前任何時間可以交換。可交換票據將根據協議條款在現金、普通股、或兩者的組合項之間進行交換

Holders of the Exchangeable Notes will have the right to require Hertz Corp. to repurchase all or a portion of their Exchangeable Notes at 100% of their initial principal amount of the Exchangeable Notes to be repurchased plus PIK interest on such Exchangeable Notes for each interest payment date occurring on or prior to the repurchase date plus accrued and unpaid PIK interest to, but excluding, the date of such repurchase, upon the occurrence of certain corporate events constituting a "fundamental change" as defined in the indenture governing the Exchangeable Notes. Hertz Corp. may not redeem the Exchangeable Notes prior to June 21, 2027. On or after June 21, 2027 and on or prior to the 31st scheduled trading day immediately preceding the maturity date, if the last reported sale price per share of Common Stock has been at least 250% of the exchange price for the Exchangeable Notes for certain specified periods, Hertz Corp. may redeem all (but not part) of the Exchangeable Notes at a cash redemption price equal to the initial principal amount of the Exchangeable Notes to be redeemed plus PIK interest on such Exchangeable Notes for each interest payment date occurring on or prior to the redemption date plus accrued and unpaid PIK interest on such Exchangeable Notes to, but not including, the redemption date.

可交換票據的持有人有權要求赫茲公司回購其可交換票據的全部或部分,回購價格爲可交換票據的初始本金金額的100%。加上在贖回日之前的每個利息支付日期的PIK利息加上 但在美國證券法修正案中豁免的私人發行。加上在特定公司事件下,可交換票據持有人有權要求赫茲公司回購其可交換票據的全部或部分,尚未支付的 PIK利息計入利息,回購價爲移除日前可交換票據的初始本金金額的100%。加上對可轉換票據的未計入利息的 PIK 利息,計入資本回購日前支付的 PIK利息

The Notes are expected to be guaranteed by the Company, Rental Car Intermediate Holdings, LLC, Hertz Corp.'s direct parent company, and each of Hertz Corp.'s existing domestic subsidiaries and future restricted subsidiaries that guarantees indebtedness under Hertz Corp.'s first lien credit facilities or certain other indebtedness for borrowed money. The First Lien Notes and the related guarantees (other than the guarantee by the Company) are expected to be secured (subject to certain exceptions and permitted liens) on a first-lien basis by the same assets (other than certain excluded property) that secure indebtedness under Hertz Corp.'s first lien credit facilities (the "Collateral") and are therefore expected to be effectively pari passu with indebtedness under Hertz Corp.'s first lien credit facilities. The Exchangeable Notes and the related guarantees (other than the guarantee by the Company) are expected to be secured (subject to certain exceptions and permitted liens) on a second-lien basis by the Collateral and are therefore expected to be effectively junior to the First Lien Notes and indebtedness under Hertz Corp.'s first lien credit facilities.

預計這些票據將由公司、租賃車中間控股公司、赫茲公司的直接母公司和每個保證赫茲公司一級信貸融資或某些其他借款的現有美國子公司或未來的限制性子公司擔保。除公司的擔保外,一級擔保票據及相關擔保預計將以同一資產(排除特定除外財產)上的第一優先基礎上的擔保發行,該資產擔保赫茲公司的第一級信貸融資;可交換票據及相關擔保預計將以此資產爲抵押,以第二優先的基礎上進行擔保,其擔保比一級擔保票據及其信貸融資要低。平價一級擔保票據及相關擔保預計將以同一資產(排除特定除外財產)上的第一優先基礎上的擔保發行,該資產擔保赫茲公司的第一級信貸融資;可交換票據及相關擔保預計將以此資產爲抵押,以第二優先的基礎上進行擔保,其擔保比一級擔保票據及其信貸融資要低。

The Notes and the guarantees of the Notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and, except for the Exchangeable Notes and the related guarantees, to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes, the guarantees of the Notes and any shares of Common Stock issuable upon exchange of the Exchangeable Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and the securities laws of any other jurisdiction.

這些票據和票據的擔保僅供被合理認爲是符合證券法144A規定的有資格機構買方購買和非美國人根據證券法規只規定的角度在美國以外地區購買。這些票據、票據的擔保和任何交換可轉換票據發行的普通股股息尚未並且將不會在美國或任何其他司法轄區的證券法下進行註冊,除非在證券法和任何其他司法轄區的證券法註冊要求下或者根據相關證券法的註冊免除條款進行登記,否則不得在美國提供或銷售。

This press release is not an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes, the guarantees of the Notes or the shares of Common Stock issuable upon exchange of the Exchangeable Notes and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.

此新聞發佈並不構成就可兌換票據和不可兌換票據的銷售和申購構成要約。本新聞稿還不在任何國家或司法管轄區內的任何情況下構成買賣、招募或銷售。

ABOUT HERTZ

關於赫茲 赫茲全球控股公司是赫茲的子公司,負責在北美、歐洲、加勒比海、拉丁美洲、非洲、中東、亞洲、澳洲和新西蘭運營 Hertz、Dollar 和 Thrifty 等租車品牌。赫茲全球控股公司是全球最大的汽車租賃公司之一,赫茲品牌是全球最著名的品牌之一。此外,赫茲全球控股公司還擁有並運營 Firefly 汽車租賃品牌和國際市場上的 Hertz 24/7 汽車共享業務,並通過赫茲汽車銷售銷售汽車。有關赫茲全球控股公司的更多信息,請訪問 .

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation owns and operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

Hertz公司是Hertz Global Holdings, Inc.的子公司,遍佈北美、歐洲、加勒比地區、拉丁美洲、非洲、中東、亞洲、澳大利亞和新西蘭。 Hertz公司是全球最大的汽車租賃公司之一,Hertz品牌在全球範圍內廣爲人知。此外,赫茲公司還擁有並經營Firefly品牌汽車租賃服務和在國際市場上的Hertz 24/7分時租賃業務,並通過赫茲汽車銷售銷售車輛。

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

關於前瞻性陳述的注意事項

This press release contains "forward-looking statements" within the meaning of the federal securities laws. Words such as "expect," "will" and "intend" and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the proposed offerings, the anticipated terms of the Notes and Hertz Corp.'s expected use of proceeds from the proposed offerings. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offerings on the anticipated terms or at all, market conditions (including market interest rates) and the satisfaction of customary closing conditions related to the offerings, unanticipated uses of capital and those in our risk factors that we identify in the offering memorandums for these offerings and our most recent annual report on Form 10-K for the year ended December 31, 2023, as filed with the U.S. Securities and Exchange Commission on February 12, 2024, and any updates thereto in the Company's quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.

本新聞稿包含《聯邦證券法》中的"前瞻性聲明"。"期望"、"將"和"打算"等詞表示了前瞻性聲明,其中包括但不限於與我們的定位、策略、遠見、前瞻性投資、旅遊業中的狀態、我們的財務和運營狀況、我們的流動資金來源、擬議中的發行情況、預計的票據條款和赫茲公司的預期使用擬議中的發行款項有關的聲明。我們提醒您,這些聲明並不預示其後的業績表現,可能會面臨許多變化和風險,以至於我們無法準確預測或評估,包括但不限於市場條件(包括市場利率)以及與擬議發行有關的多種風險和不確定性,以及我們在一個15364247X1DD29ED2CB0A9520A7789F54BBA5FA2022年12月31日提交給美國證券交易委員會的最近年度報告上識別出的風險因素以及我們爲此次發行準備的發售備忘錄中的條款,以及我們於2024年2月12日向美國證券交易委員會提交的任何更新,以及公司提交的季度報告和8-K表格。我們提醒您不要過分依賴我們的前瞻性聲明,我們的前瞻性聲明僅在其發表日期有效,我們不承擔更新此信息的義務。

SOURCE Hertz Global Holdings, Inc.

資料來源:赫茲全球控股公司。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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