08:11 AM EDT, 05/15/2025 (MT Newswires) -- Herc ( HRI ) said Thursday its subsidiary Herc Holdings Escrow plans to offer $2.75 billion in senior unsecured notes due 2030 and 2033 in a private placement, with terms to be determined at the time of pricing of the notes.

The proceeds from the offering will be used to finance the acquisition of H&E Equipment Services ( HEES ) , redeem H&E's outstanding debt and cover related transaction costs.

If the notes offering does not close concurrently with the acquisition, proceeds will be held in escrow until closing conditions are met.

Upon acquisition closing, the escrow issuer, Herc Holdings Escrow will merge into Herc ( HRI ), and Herc ( HRI ) will assume the note obligations. The notes will be guaranteed on a senior unsecured basis by Herc ( HRI ) and H&E's domestic subsidiaries.