08:51 AM EDT, 06/04/2024 (MT Newswires) -- Herc Holdings ( HRI ) said Tuesday it plans to offer $500 million aggregate principal amount of senior unsecured notes due 2029 in a private placement to institutional buyers in the US.

The company said the terms will be set at pricing.

Herc ( HRI ) said it intends to use the net proceeds to repay part of its senior secured asset-based revolving credit agreement and cover related costs.

Shares of the company were up 1.5% in recent Tuesday premarket activity.

Price: 139.36, Change: +2.12, Percent Change: +1.54