Rental-care company Hertz Global Holdings Inc. HTZ, +0.30% said Wednesday it is planning to offer $1.5 billion in five-year high-yield bonds in a private placement. Proceeds will be used along with cash on hand to repurchase all or some of the company's outstanding Series A preferred stock, and for general corporate purposes. The company, which emerged from bankruptcy in July, resumed trading on Nasdaq last week and selling shareholders raised $1.29 billion by selling shares ahead of the relisting. The company did not receive any proceeds from those sales. Shares were up 1.2% premarket.