Herc Holdings Inc. announces its intention to offer $1,200 million aggregate principal amount of senior unsecured notes due 2031 and 2034 in a private offering.
The net proceeds from the notes' sale are expected to redeem the Company's 5.50% Senior Notes due 2027 and cover related fees and expenses.
The notes will be offered to qualified institutional buyers in the U.S. under Rule 144A and outside the U.S. under Regulation S.
Private Offering
Proposed private offering of $1,200 million senior unsecured notes due 2031 and 2034.
Use of Proceeds
Net proceeds to redeem existing 5.50% Senior Notes due 2027 and pay related fees.
Regulatory Compliance
Notes offered to qualified institutional buyers in the U.S. and outside under Regulation S.
Guarantees
Notes guaranteed by Company's current and future domestic subsidiaries, including Herc Rentals Inc.
- The offering will allow the Company to restructure its debt obligations and benefit from potentially lower interest rates.
- Redemption of existing notes will streamline the Company's debt profile and may improve its financial flexibility.
Herc Holdings Inc.'s proposed private offering of senior unsecured notes demonstrates its proactive approach to optimizing its financial position through strategic financing decisions.