Hertz $636.3 million ABS issue

Overview:

• Hertz, a rental car company, offered Series 2015-2 rental car asset backed notes and the Series 2015-3 rental car asset backed notes, collectively worth $636.3 million.
• The Series 2015-2 notes are due in September 2018 and the Series 2015-3 notes are due September 2020. 
• The Series 2015-2 notes included the issue of $189.5 million 2.02% notes, $46.2 million 2.96% notes, $14.3 million 3.95% notes and $15.1 million 4.93% notes.
• The Series 2015-3 notes included the issue of $265.3 million 2.67% notes, $64.7 million 3.71% notes,  $20.0 million 4.44% notes and $21.2 million 5.33% notes. 
• The company planned to use the proceeds from these offers to repay outstanding debt and to grant loans to Hertz Vehicle Financing. 

Rani Mehta - Journalist