Hertz to raise $1.5 bln in first debt issue since bankruptcy exit
Nov 17 (Reuters) - Car rental firm Hertz Global Holdings Inc is planning to raise $1.5 billion through a senior notes offering in its first capital raise since emerging from bankruptcy protection in June.
The Florida-based company said on Wednesday it would use the proceeds to repurchase some preferred stock. The unsecured notes will be due in 2026 and 2029, and will pay interest to debt holders every six months.
Last month, Hertz announced a multi-billion order for 100,000 electric rental cars from Tesla Inc though its Chief Executive Elon Musk later said the electric-car maker had not signed a contract with Hertz.
Shares of the company were up about 1% at $23.27 in premarket trading.
(Reporting by Nathan Gomes in Bengaluru; Editing by Arun Koyyur)
