Hertz Netherlands unit to sell €500 million senior notes

By Paul Deckelman

New York, March 5 – Hertz Global Holdings, Inc. said Monday that its wholly owned Netherlands subsidiary, Hertz Holdings Netherlands BV, plans to sell €500 million senior notes (BB-) in a Rule 144A and Regulation S transaction.

There was no immediate word on the timing or tenor of the deal, the investment banks involved or other structural features of the notes such as their call status.

Hertz – an Estero, Fla.-based global vehicle rental and leasing company – said that the notes would be guaranteed on a senior unsecured basis by its wholly owned Hertz Corp. subsidiary, the latter entity’s domestic subsidiaries that guarantee its senior credit facilities from time to time, and certain foreign Hertz Corp. subsidiaries that guarantee its European revolving credit facility from time to time.

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