Hertz Shares Jump on $250m Exchangeable Notes Offering (1)

(Adds shares.)

Hertz Global Holdings shares are up 13% in extended trading after the rental car company announced that its wholly-owned indirect subsidiary, Hertz Corp., intends to offer $250 million in aggregate principal amount of exchangeable senior notes due 2030 in a private offering. The deal would in part help the company pay down debt coming due soon.

• Hertz Corp. intends to use some of the net proceeds from the issuance of the notes to fund the partial redemption or repurchase of its outstanding senior notes due 2026 on or before Dec. 31, 2025, according to a press release

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