09:18 AM EST, 12/05/2024 (MT Newswires) -- Hertz Global Holdings ( HTZ ) said Thursday that its indirect unit Hertz Corp. intends to offer $500 million of 12.625% first lien senior secured notes due 2029 via a private offering.

The notes will be a further issuance of the 12.625% first lien senior secured notes due 2029 that were issued on June 28, the company said.

Hertz Corp. plans to use the net proceeds from the issuance of the additional notes to repay borrowings under a revolving credit facility and to pay consent fees and other expenses related to the concurrent consent solicitations to amend terms of the indentures governing certain notes, the company said.