Herc Holdings announced the pricing of $600 million aggregate principal amount of 5.750% senior unsecured notes due 2031 and $600 million aggregate principal amount of 6.000% senior unsecured notes due 2034.
The offering is exempt from the registration requirements of the Securities Act of 1933, as amended.
The net proceeds are expected to be used for note redemption and related expenses.
Notes Offering Details
Herc Holdings priced $1,200 million in senior unsecured notes, targeting 2031 and 2034 maturity dates.
Use of Proceeds
The proceeds, combined with existing credit facility borrowings, will be used to redeem existing senior notes and cover associated costs.
Offering Regulations
The notes were offered under Rule 144A for US institutional buyers and Regulation S for non-US buyers.
- The notes offering indicates Herc Holdings' strategic approach to refinancing and managing its debt profile.
- This move will impact the Company's debt structure and interest payment obligations in the upcoming years.
Herc Holdings' successful pricing of senior unsecured notes reflects investor confidence in the Company's financial position and strategy. The intended use of proceeds demonstrates a proactive approach towards optimizing the capital structure.