Hertz Global Holdings Announces Pricing of $950 Million Medium Term Rental Car Asset Backed Notes

Thu Jan 17, 2013 4:32pm EST

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PARK RIDGE, N.J.,  Jan. 17, 2013  /PRNewswire/ -- Hertz Global Holdings, Inc.
("Hertz Holdings") (NYSE: HTZ) announced today that Hertz Vehicle Financing LLC
("HVF"), a special purpose bankruptcy remote limited liability company of which
The Hertz Corporation ("Hertz" or the "Company"), a wholly-owned subsidiary of
Hertz Holdings, is the sole member, priced  $950 million  in aggregate principal
amount of three year and five year Series 2013-1 Rental Car Asset Backed Notes,
Class A and Class B, rated "Aaa" and "Baa2" by Moody's, respectively.

(Logo:   http://photos.prnewswire.com/prnh/20110810/NY50373LOGO)

The  $282.75 million  of three year Class A notes carry a 1.12% coupon, the 
$42.25 million  of three year Class B notes carry a 1.86% coupon, the  $543.75
million  of five year Class A notes carry a 1.83% coupon, and the  $81.25
million  of five year Class B notes carry a 2.48% coupon.  The three year notes
and five year notes have expected final payment dates in  August 2016  and 
August 2018, respectively.  The Class B Notes are subordinated to the Class A

The notes are to be offered and sold only to qualified institutional buyers in
an offering exempt from registration pursuant to Rule 144A of the Securities Act
of 1933, as amended (the "Securities Act"), and to investors outside  the United
States  pursuant to Regulation S under the Securities Act.

The net proceeds from the sale of the notes will be, to the extent permitted by
the applicable agreements, (i) used to pay the purchase price of vehicles
acquired by HVF pursuant to Hertz Holdings' ABS Program, (ii) used to pay the
principal amount of other ABS Program indebtedness that is then permitted or
required to be paid or (iii) released to HVF to be distributed to Hertz or
otherwise used by HVF for general purposes.  The offering is expected to close
on  January 23, 2013  subject to customary closing conditions.

This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The notes have not been and will not be registered under the Securities Act or
any applicable state securities laws and may not be offered or sold in  the
United States  absent registration or an applicable exemption from registration


Hertz Holdings, through its subsidiary Hertz, operates its car rental business
through the Hertz, Dollar and Thrifty brands from approximately 10,400
corporate, licensee and franchisee locations in  North America,  Europe,  Latin
America,  Asia,  Australia,  Africa, the  Middle East  and  New Zealand. Hertz
is the largest worldwide airport general use car rental brand, operating from
approximately 8,800 corporate and licensee locations in approximately 150
countries.  Our Dollar and Thrifty brands have approximately 1,580 corporate and
franchisee locations in approximately 80 countries. Our Hertz brand name is one
of the most recognized in the world, signifying leadership in quality rental
services and products. We are one of the only car rental companies that has an
extensive network of company operated rental locations both in  the United
States  and in all major European markets. We believe that we maintain the
leading airport car rental brand market share, by overall reported revenues, in 
the United States  and at 111 major airports in  Europe  where we have company
operated locations and where data regarding car rental concessionaire activity
is available. We believe that we also maintain the second largest market share,
by revenues, in the off-airport car rental market in  the United States. In our
equipment rental business segment, we rent equipment through approximately 340
branches in  the United States,  Canada,  France,  Spain,  China  and  Saudi
Arabia, as well as through our international licensees. We and our predecessors
have been in the car rental business since 1918 and in the equipment rental
business since 1965. We also own Donlen Corporation, based in  Northbrook,
Illinois, which is a leader in providing fleet leasing and management services. 


This communication contains "forward-looking statements." Examples of
forward-looking statements include information concerning Hertz Holdings'
liquidity and its possible or assumed future results of operations, including
descriptions of its business strategy.  These forward-looking statements often
include words such as "believe," "expect," "project," "anticipate," "intend,"
"plan," "estimate," "seek," "will," "may," "would," "should," "could,"
"forecasts" or similar expressions. These statements are based on certain
assumptions that Hertz Holdings has made in light of its experience in the
industry as well as its perceptions of historical trends, current conditions,
expected future developments and other factors that Hertz Holdings believes are
appropriate in these circumstances. You should understand that these statements
are not guarantees of performance or results.  They involve risks, uncertainties
and assumptions.  Many factors could affect our actual financial results and
could cause actual results to differ materially from those expressed in the
forward-looking statements.

Among other items, such factors could include: the effect of the debt markets on
the offering and Hertz Holdings' ability to satisfy the closing conditions to
the offering; our ability to integrate the car rental operations of Dollar
Thrifty Automotive Group, Inc. ("Dollar Thrifty") and the ability to realize
operational efficiencies from the acquisition of Dollar Thrifty; the operational
and profitability impact of divestitures that we were required to undertake to
secure regulatory approval for the acquisition of Dollar Thrifty; levels of
travel demand, particularly with respect to airline passenger traffic in  the
United States  and in global markets; significant changes in the competitive
environment, including as a result of industry consolidation, and the effect of
competition in our markets, including on our pricing policies or use of
incentives; occurrences that disrupt rental activity during our peak periods;
our ability to achieve cost savings and efficiencies and realize opportunities
to increase productivity and profitability; an increase in our fleet costs as a
result of an increase in the cost of new vehicles and/or a decrease in the price
at which we dispose of used vehicles either in the used vehicle market or under
repurchase or guaranteed depreciation programs; our ability to accurately
estimate future levels of rental activity and adjust the size of our fleet
accordingly; our ability to maintain sufficient liquidity and the availability
to us of additional or continued sources of financing for our revenue earning
equipment and to refinance our existing indebtedness; safety recalls by the
manufacturers of our vehicles and equipment; a major disruption in our
communication or centralized information networks; financial instability of the
manufacturers of our vehicles and equipment; any impact on us from the actions
of our licensees, franchisees, dealers and independent contractors; our ability
to maintain profitability during adverse economic cycles and unfavorable
external events (including war, terrorist acts, natural disasters and epidemic
disease); shortages of fuel and increases or volatility in fuel costs; our
ability to successfully integrate acquisitions and complete dispositions; our
ability to maintain favorable brand recognition; costs and risks associated with
litigation; risks related to our indebtedness, including our substantial amount
of debt, our ability to incur substantially more debt and increases in interest
rates or in our borrowing margins; our ability to meet the financial and other
covenants contained in our senior credit facilities, our outstanding unsecured
senior notes and certain asset-backed and asset-based arrangements; changes in
accounting principles, or their application or interpretation, and our ability
to make accurate estimates and the assumptions underlying the estimates, which
could have an effect on earnings; changes in the existing, or the adoption of
new laws, regulations, policies or other activities of governments, agencies and
similar organizations where such actions may affect our operations, the cost
thereof or applicable tax rates; changes to our senior management team; the
effect of tangible and intangible asset impairment charges; the impact of our
derivative instruments, which can be affected by fluctuations in interest rates
and commodity prices; and our exposure to fluctuations in foreign exchange
rates. Additional information concerning these and other factors can be found in
our filings with the Securities and Exchange Commission, including our most
recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.

Hertz Holdings therefore cautions you against relying on these forward-looking
statements. All forward-looking statements attributable to Hertz Holdings or
persons acting on Hertz Holdings' behalf are expressly qualified in their
entirety by the foregoing cautionary statements. All such statements speak only
as of the date made, and Hertz Holdings undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.

SOURCE  The Hertz Corporation

Leslie Hunziker, Hertz Investor Relations, +1-201-307-2337, lhunziker@hertz.com;
or Richard Broome, Hertz Media Relations, +1-201-307-2486, rbroome@hertz.com

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