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Hertz completes $3.2 billion bond deal


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  • | 3:53 p.m. November 29, 2013
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NAPLES — Hertz says it has completed a bond deal worth nearly $3.2 billion to finance its U.S. car-rental fleet, the company announced.

In a statement, Hertz says the bond deal will facilitate financing vehicles under its various brands, which include Hertz, Dollar, Thrifty and Firefly. Hertz says it created a special-purpose subsidiary to raise the funds: Hertz Vehicle Financing II L.P.

On Tuesday, executives from Hertz and Gov. Rick Scott broke ground on the company's new headquarters in Estero. Hertz is moving its corporate headquarters from New Jersey to South Lee County, including 700 jobs.

Hertz, the largest general-use airport rental car brand, operates about 11,200 corporate and franchisee locations in approximately 150 countries. It reported net income of $241 million on revenues of $3.1 billion in the most recent quarter.

 

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