ESTERO, Fla., October 16, 2020 / PRNewswire / – Hertz Global Holdings, Inc. (NYSE: HTZ) announced today that it has secured commitments for total debtor financing in possession (“DIP”) $ 1.65 billion has filed a motion for approval of funding by the U.S. Bankruptcy Court for the delaware.
Hertz President and CEO Paul Stone said, “This new funding will provide additional financial flexibility as we continue to navigate the effects of the pandemic on the travel industry and take steps to better position our business for the future. We are pleased with the strong interest from “Our first pre-petition to lenders and we appreciate their support for Hertz and our future opportunities as a rental car driver.”
The proposed DIP financing will support the Company as it moves into its next phase of the Chapter 11. process. Financing will be provided by some of the Company’s first-time borrowers and is expected to be structured as a debt relief. term loan. Until $ 1 billion can be used to provide capital for the purchase of vehicles in the US and Canada. Until $ 800 million can be used for working capital and general corporate purposes. Funding is subject to final documentation, Court approval and other customary terms, and a hearing is scheduled for October 29, 2020.
Moelis & Co is serving as investment banker, FTI Consulting is serving as Hertz financial advisor and White & Case LLP is serving as Hertz legal advisor.
Additional information regarding DIP funding and court records is available at https://restrukturim.primeclerk.com/hertz.
Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, Caribbean, Latin America, Africa, Middle East, Asia, Australia and New Zeland. Hertz Corporation is one of the largest vehicle rental companies worldwide, and the Hertz brand is one of the most well-known worldwide. Furthermore, Hertz Corporation owns the vehicle rental leader and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and the Hertz 24/7 car distribution business in international markets, and sells vehicles through Hertz Vehicle Sales. For more information about Hertz Corporation, visit www.hertz.com.
SOURCE Hertz Global Holdings, Inc.
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]