Hertz $500 Million Secured Debt Deal Mulled at 12% Coupon

Hertz Global Holdings Inc. is in discussions to raise $500 million of senior secured debt from investors at a 12% coupon, according to people familiar with the matter.

JPMorgan Chase & Co. and Barclays Plc have held talks with potential investors on behalf of the rental-car company, and a deal could come as soon as next week, the people said, asking not to be identified discussing private information.

The debt would have a 5-year maturity and pay a fixed coupon. The company is also in talks with investors to raise about $200 million in convertible bonds, the people added.

The ...