Hertz Shares Up on Accord for $1.65B Debtor Financing [TheStreet.com]
Hertz Global Holdings, Inc (HTZ)
Last hertz global holdings, inc earnings: 2/24 04:05 pm
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Source: TheStreet.com
Hertz Global Holdings(HTZGet ReportThe Estero, Fla., company said in a statement that it had "secured commitments for debtor-in-possession financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware.”Hertz shares recently traded at $2.18, more than double their Thursday close at $1.03. The stock was off 93% year to date through Thursday, with the coronavirus pandemic pummeling the entire travel industry.Hertz filed for Chapter 11 protection from creditors in May.“The financing is to be provided by certain of the company's pre-petition first-lien lenders and is expected to be structured as a delayed draw term loan debtor facility,” Hertz said.“Up to $1 billion can be used to provide equity for vehicle acquisition in the U.S. and Canada. Up to $800 million can be used for working capital and general corporate purposes.”Chief Executive Paul Stone said the "new financing will provide additional financial f
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HTZ
Earnings
- 2/6/24 - Miss
HTZ
Sec Filings
- 4/22/24 - Form 8-K
- 4/9/24 - Form ARS
- 4/9/24 - Form DEFA14A
- HTZ's page on the SEC website