Herc Holdings Intends Private Offering Of $500 Mln Of Senior Unsecured Notes Due 2029

(RTTNews) - Herc Holdings Inc. (HRI), which operates through its full-line rental supplier unit Herc Rentals Inc., announced Tuesday that it intends to offer $500 million aggregate principal amount of senior unsecured notes due 2029 in a private offering.

The company said the terms of the notes will be determined at the time of pricing of the notes.

The notes will be the company's senior unsecured obligations, and interest will be payable semi-annually in arrears. The notes will be guaranteed on a senior unsecured basis, subject to limited exceptions, by the company's current and future domestic subsidiaries, including Herc Rentals.

The net proceeds from the sale of the notes are expected to be used to repay a portion of the indebtedness outstanding under the company's senior secured asset-based revolving credit agreement and to pay related fees and expenses.