Business News • MarketWire • Hertz Completes Refinancing of Senior Secured Credit Facilities |
Hertz Completes Refinancing of Senior Secured Credit Facilities |
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Hertz Completes Refinancing of Senior Secured Credit Facilities
PARK RIDGE, NJ--(Marketwire - March 17, 2011) - Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz Holdings") announced today that its wholly-owned subsidiaries, The Hertz Corporation ("Hertz") and Hertz Equipment Rental Corporation, have completed the refinancing of their existing senior secured credit facilities under a new $1.8 billion asset-based revolving credit facility (the "Senior ABL Facility") and a new $1.6 billion senior secured term loan and letter of credit facility (the "Senior Term Facility" and together with the "Senior ABL Facility," the "Senior Credit Facilities"). The Senior ABL Facility will mature in 2016 and the Senior Term Loan Facility will mature in 2018.
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