Supreme Court Seeks US Views on Hertz $320M Bond Case (1)

Supreme Court asks Trump administration for advice on Hertz bid to avoid paying bondholders more than $320m in interest in case stemming from Covid-era bankruptcy.

• Hertz seeking Supreme Court review of a federal appeals court decision that said bondholders from the company’s 2020 bankruptcy are entitled to interest on notes at contract rate, not at much lower federal judgment rate
• The rental car firm is facing a payment of $328 million of make-whole premiums and post-petition interest to bondholders
• Meanwhile, the company has been looking to raise $500 million of secured debt as well as some equity, partly to finance ...