Hertz Global Shares Jump 13% Premarket After Co Announces Pricing of Upsized $375 Mln Exchangable Notes Offering
THOMSON REUTERS
Sep 25, 2025
Hertz Global Holdings, Inc. said Thursday one of its subsidiaries has agreed to sell in a private placement $375 million of 5.5% exchangeable senior notes due 2030.
Hertz shares jump 13% premarket on the news.
The initial purchasers have been granted a 13-day option to purchase up to $50 million of additional notes.
Net proceeds, estimated to be about $360.1 million to $408.4 million, will be used for certain capped call transactions, the partial redemption of outstanding senior notes due 2026, and general corporate purposes, the company said.
The notes will have an initial exchange price of about $9.24 per share.
The offering, which has been upsized from $250 million, is expected to close on or about Sept. 29.
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