Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Hertz starts cash tender offer, solicitation for series A preferreds
Chicago, Nov. 23 – Hertz Global Holdings, Inc. started a cash tender offer to purchase all 1.5 million outstanding shares of its series A preferred stock, according to a press release.
The company is offering $1,250 per share in cash, less any applicable withholding taxes.
The tender offer will expire at midnight ET on Dec. 21.
The company will fund the tender offer with cash, including proceeds from a recently completed offering of senior notes.
The company is also soliciting consents to amend the certificate of designation to eliminate a section so that the company can make certain restricted payments in respect of junior stock.
The proposed amendment is already expected to be approved, as certain holders have already agreed to their shares and thereby consent to the amendment.
Computershare Trust Co., NA is serving as the depositary for the tender offer (239 310-7000, investorrelations@hertz.com).
The vehicle rental company is based in Estero, Fla.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.