Herc issues $800 million in senior notes
07 June 2024
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Herc is to open a $800 million aggregate principal amount of 6.625% senior unsecured notes, the company has announced.
Herc said they will 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.
The notes, which were initially set at $500 million, are part of a private offering due by 2029 and will be senior unsecured obligations of the company, it said, with interest to be payable semi-annually in arrears.
They will be guaranteed on a senior unsecured basis, subject to limited exceptions, by the company’s current and future domestic subsidiaries.
The company added it plans to close the offering in June 7, subject to customary closing conditions.
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