TECH - Car-Rental Firm Hertz Reportedly Seeks $700M Lifeline As EV Strategy Stalls | Benzinga
Car rental service Hertz Global Holdings Inc (NASDAQ:HTZ) is reportedly contemplating selling $700 million in secured debt, coupled with a convertible notes offering.
What Happened: The car rental company is seeking to enhance its financial position and contacting potential investors on the secured debt issue, Bloomberg reported, citing people familiar with the matter.
Despite the ongoing discussions, no final decisions have been made, and the specifics of the financing, including the size, are subject to change, the report added.
Hertz did not immediately respond to Benzinga’s request for comment.
The move comes after Hertz faced significant financial strain ...