Hertz Global Holdings Announces Proposed $300 Million Private Offering

Hertz Global Holdings HTZ announced today that its wholly owned subsidiary, The Hertz Corporation, intends to offer $300 million aggregate principal amount of senior notes due 2018 in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, subject to market and other conditions. The notes will pay interest semi-annually in arrears. The notes are expected to be guaranteed on a senior unsecured basis by the domestic subsidiaries of Hertz that guarantee its senior credit facilities. The final terms of the notes will be determined at the time of pricing of the notes. Hertz intends to use the proceeds from the offering of the notes for general corporate purposes, which may include repayment of consolidated indebtedness or funding a portion of the cash consideration for the acquisition of Dollar Thrifty Automotive Group by Hertz Holdings.