Hertz Weighs $700 Million Sale of Secured Debt, Convertibles
- Advisers reach out to potential buyers of secured bonds
- Rental car provider seeks to buoy balance sheet after EV error
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Hertz Global Holdings Inc., seeking to bolster its balance sheet after an electric-vehicles blunder, is considering the sale of at least $700 million in secured debt as well as a convertible notes offering, according to people with knowledge of the matter.
The rental-car company’s advisers, JPMorgan Chase & Co. and Barclays Plc, have begun contacting potential investors regarding the secured debt issue, some of the people said. No final decisions have been made and the size and other terms of any financing could change.