Hertz’s Dutch subsidiary announces pricing of $495 million worth of senior secured notes
By APFriday, June 25, 2010
Hertz’s Dutch subsidiary prices $495M of notes
PARK RIDGE, N.J. — Hertz Global Holdings, Inc. said Friday that its Dutch subsidiary has priced $495 million (400 million euros) worth of senior secured notes.
Hertz Holdings Netherlands B.V. said the 8.5 percent notes are due in 2015 and will be sold to institutional investors.
The notes are rated “B1″ by Moody’s Investors Service and “B” by Standard & Poor’s.
Hertz said the proceeds will be used to refinance outstanding international fleet debt facilities, including a Belgian fleet financing facility.
Company shares rose 8 cents to close at $9.98.
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