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Stocks•25 June 2026•

1 min read

Hertz Prices $350M Exchangeable Notes at 6.75% Coupon

Key Facts

1Hertz Global Holdings (HTZ) announced pricing of a private offering of $350 million exchangeable senior first-lien secured PIK notes due 2030 with a 6.75% coupon, upsized from the original amount.

As companies in the services sector seek to strengthen liquidity amid market volatility, Hertz Global Holdings (HTZ) according to reports announced the pricing of a private offering of $350 million in exchangeable senior secured notes, with a 6.75% coupon due 2030, upsized from the previously announced amount. The issuance was made through its subsidiary The Hertz Corporation, and the notes are first-lien secured with a payment-in-kind (PIK) option.

The move comes as Hertz continues to restructure its debt following its emergence from bankruptcy; the upsized offering signals strong investor demand despite higher borrowing costs. The secured first-lien status provides additional protection to noteholders, but the PIK option could increase debt burdens going forward.

HTZ shares closed at $5.14 (close of June 22, 2026), trading in a range of $5.00 to $5.19 on the same day. The stock remains under pressure from increased leverage, and investors will likely focus on upcoming earnings reports and cash flow developments to assess the impact of the issuance.