Hertz Global Holdings Announces Proposed $250 Million Private Offering of Senior Notes by The Hertz Corporation

  Hertz Global Holdings Announces Proposed $250 Million Private Offering of
                    Senior Notes by The Hertz Corporation

PR Newswire

PARK RIDGE, N.J., March 14, 2013

PARK RIDGE, N.J., March 14, 2013 /PRNewswire/ -- Hertz Global Holdings, Inc.
(NYSE: HTZ) (the "Company") announced today that its wholly-owned subsidiary,
The Hertz Corporation ("Hertz"), intends to offer $250 million aggregate
principal amount of senior notes (the "Notes") in a private offering (the
"Offering") exempt from the registration requirements of the Securities Act of
1933, as amended (the "Securities Act"), subject to market and other

The Notes will pay interest semi-annually in arrears. The Notes are expected
to be guaranteed on a senior unsecured basis by the domestic subsidiaries of
Hertz that guarantee its senior credit facilities from time to time.

Hertz intends to use the net proceeds from the issuance of the Notes to
replenish a portion of its liquidity after having dividended approximately
$467.2 million in available liquidity to the Company, which the Company used
to repurchase approximately 23 million of the approximately 60 million shares
of the Company's common stock sold in an offering by certain of the Company's
stockholders on March 12, 2013.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any of the Notes (and the guarantees of the Notes) or any
other securities, nor will there be any sale of the Notes or any other
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. The Notes (and the guarantees of the Notes) will be issued in
reliance on the exemption from the registration requirements provided by Rule
144A under the Securities Act and, outside of the United States, only to
non-U.S. investors pursuant to Regulation S under the Securities Act. None of
the Notes and such guarantees have been registered under the Securities Act or
any state securities laws, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws.


Hertz operates its car rental business through the Hertz, Dollar and Thrifty
brands from approximately 10,270 corporate, licensee and franchisee locations
in North America, Europe, Latin America, Asia, Australia, Africa, the Middle
East and New Zealand. Hertz is the largest worldwide airport general use car
rental brand, operating from approximately 8,860 corporate and licensee
locations in approximately 150 countries. Our Dollar and Thrifty brands have
approximately 1,410 corporate and franchisee locations in 83 countries. Our
Hertz brand name is one of the most recognized in the world, signifying
leadership in quality rental services and products. We are one of the only car
rental companies that has an extensive network of company‑operated rental
locations both in the United States and in all major European markets. We
believe that we maintain the leading airport car rental brand market share, by
overall reported revenues, in the United States and at 120 major airports in
Europe where we have company‑operated locations and where data regarding car
rental concessionaire activity is available. We believe that we also maintain
the second largest market share, by overall reported revenues, in the
off-airport car rental market in the United States. In our equipment rental
business segment, we rent equipment through approximately 340 branches in the
United States, Canada, France, Spain, China and Saudi Arabia, as well as
through our international licensees. We and our predecessors have been in the
car rental business since 1918 and in the equipment rental business since
1965. We also own Donlen Corporation, based in Northbrook, Illinois, which is
a leader in providing fleet leasing and management services.


This communication contains "forward-looking statements." Examples of
forward-looking statements include information concerning our liquidity and
its possible or assumed future results of operations, including descriptions
of its business strategy. These forward-looking statements often include
words such as "believe," "expect," "project," "anticipate," "intend," "plan,"
"estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or
similar expressions. These statements are based on certain assumptions that
the Company has made in light of its experience in the industry as well as its
perceptions of historical trends, current conditions, expected future
developments and other factors that the Company believes are appropriate in
these circumstances. You should understand that these statements are not
guarantees of performance or results. They involve risks, uncertainties and
assumptions. Many factors could affect our actual financial results and could
cause actual results to differ materially from those expressed in the
forward-looking statements, due to a variety of important factors, both
positive and negative.

Among other items, such factors could include: our ability to integrate the
car rental operations of Dollar Thrifty Automotive Group, Inc. ("Dollar
Thrifty") and realize operational efficiencies from the acquisition of Dollar
Thrifty; the operational and profitability impact of divestitures that we
agreed to undertake to secure regulatory approval for the acquisition of
Dollar Thrifty; levels of travel demand, particularly with respect to airline
passenger traffic in the United States and in global markets; the impact of
pending and future U.S. governmental action to address budget deficits through
reductions in spending and similar austerity measures, which could materially
adversely affect unemployment rates and consumer spending levels; significant
changes in the competitive environment, including as a result of industry
consolidation, and the effect of competition in our markets, including on our
pricing policies or use of incentives; occurrences that disrupt rental
activity during our peak periods; our ability to achieve cost savings and
efficiencies and realize opportunities to increase productivity and
profitability; an increase in our fleet costs as a result of an increase in
the cost of new vehicles and/or a decrease in the price at which we dispose of
used vehicles either in the used vehicle market or under repurchase or
guaranteed depreciation programs; our ability to accurately estimate future
levels of rental activity and adjust the size and mix of our fleet
accordingly; our ability to maintain sufficient liquidity and the availability
to us of additional or continued sources of financing for our revenue earning
equipment and to refinance our existing indebtedness; safety recalls by the
manufacturers of our vehicles and equipment; a major disruption in our
communication or centralized information networks; financial instability of
the manufacturers of our vehicles and equipment; any impact on us from the
actions of our licensees, franchisees, dealers and independent contractors;
our ability to maintain profitability during adverse economic cycles and
unfavorable external events (including war, terrorist acts, natural disasters
and epidemic disease); shortages of fuel and increases or volatility in fuel
costs; our ability to successfully integrate acquisitions and complete
dispositions; our ability to maintain favorable brand recognition; costs and
risks associated with litigation; risks related to our indebtedness, including
our substantial amount of debt, our ability to incur substantially more debt
and increases in interest rates or in our borrowing margins; our ability to
meet the financial and other covenants contained in our senior credit
facilities, our outstanding unsecured senior notes and certain asset-backed
and asset-based arrangements; changes in accounting principles, or their
application or interpretation, and our ability to make accurate estimates and
the assumptions underlying the estimates, which could have an effect on
earnings; changes in the existing, or the adoption of new laws, regulations,
policies or other activities of governments, agencies and similar
organizations where such actions may affect our operations, the cost thereof
or applicable tax rates; changes to our senior management team; the effect of
tangible and intangible asset impairment charges; the impact of our derivative
instruments, which can be affected by fluctuations in interest rates and
commodity prices; and our exposure to fluctuations in foreign exchange rates.
Additional information concerning these and other factors can be found in our
filings with the Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K.

The Company therefore cautions you against relying on these forward-looking
statements. All forward-looking statements attributable to the Company or
persons acting on the Company's behalf are expressly qualified in their
entirety by the foregoing cautionary statements. All such statements speak
only as of the date made, and the Company undertakes no obligation to update
or revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.

SOURCE The Hertz Corporation

Website: http://www.hertz.com
Contact: Leslie Hunziker, Hertz Investor Relations, +1-201-307-2337,
lhunziker@hertz.com or Richard Broome, Hertz Media Relations, +1-201-307-2486,
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