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Hertz To Raise $500M In Note Sale

U.S. general use car rental brand, Hertz, will raise a total of about $500 million in a note sale.

    U.S.general use car rental brand,Hertz,will raise a total of about $500 million in a note sale. The wholly-owned subsidiary ofHertz Global Holdingswill use the proceeds to redeem a portion of its outstanding 8.875% senior dollar notes due 2014.

    The bonds, which carry a coupon rate of 6.75%, will mature on April 15, 2019. The joint book-running managers for the sale areBarclays,Citi,Credit Agricole,德意志银行(Deutsche Bank),JP Morgan,Bankof America Merrill LynchandWells Fargo, addsReuters.

    Click here for the release fromMarket Wire.

    Click here for additional coverage fromReuters.

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