(Bloomberg) — Hertz Global Holdings Inc. has arranged a new $1.65 billion debt package to help fund its bankruptcy case, the car rental giant said Friday.Certain of the company’s first-lien lenders will provide the financing, which will be structured as a delayed-draw term loan, Hertz said in a statement. As much as $1 billion of the debt can be used for vehicle acquisition in the U.S. and Canada, while $800 million can be used for working capital and general corporate purposes.The deal follows Hertz’s earlier, controversial attempt to sell new, potentially worthless shares to fund its bankruptcy. The stock rose …read more
Source:: Yahoo Finance
