Hertz today also announced that its wholly-owned subsidiary, HDTFS, Inc. (the "Escrow Issuer") has extended the escrow arrangements for its $700,000,000 aggregate principal amount of 5.875% Senior Notes due 2020 (the "2020 Notes") and $500,000,000 aggregate principal amount of 6.250% Senior Notes due 2022 (the "2022 Notes" and, together with the 2020 Notes, the "Notes"). Proceeds from the offering of the Notes (plus an amount equal to the interest that would accrue on the Notes from the date of issuance to, but excluding, November 24, 2012) were deposited into an escrow account to be held until the date on which certain escrow conditions are satisfied, including the substantially concurrent (1) consummation of the tender offer and (2) assumption of the Escrow Issuer's obligations under each series of Notes by The Hertz Corporation, a wholly-owned subsidiary of Hertz. The Escrow Issuer has extended the outside date of the escrow arrangements to November 30, 2012 and is permitted to further extend the outside date up to February 26, 2013. In connection with the extension, the Escrow Issuer has deposited additional funds into the escrow account in an amount equal to the interest that would accrue on the Notes from November 24, 2012 to, but excluding, December 10, 2012, the redemption date associated with the new outside date of November 30, 2012.
Hertz Contact information:
Staff Vice President - Investor RelationsTel: 201-307-2337E-mail:
Senior Vice President - Corporate Affairs & CommunicationsTel: 201-307-2486 E-mail:
Brunswick GroupTel: 212-333-3810
About Hertz Global Holdings, Inc.
Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,760 corporate and licensee locations in approximately 150 countries in
. Hertz is the number one airport car rental brand in the U.S. and at 119 major airports in
. In addition, the Company has sales and marketing centers in 60 countries which promote Hertz business both within and outside such country. Product and service initiatives such as Hertz Gold Choice, Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, Sirius XM Satellite Radio, and unique cars and SUVs offered through the Company's Adrenaline, Prestige and Green Traveler Collections, set Hertz apart from the competition. In 2008, the Company entered the global car sharing market with its service now referred to as Hertz On Demand which rents cars by the hour and/or by the day, at various locations in the U.S.,
. Hertz also operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of rental equipment, from small tools and supplies to earthmoving equipment, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers, from approximately 330 branches in
the United States
, as well as through its international licensees. Hertz also owns Donlen Corporation, based in
, which is a leader in providing fleet leasing and management services.
About Dollar Thrifty Automotive Group, Inc.
Through its Dollar Rent A Car and Thrifty Car Rental brands, the Company has been serving value-conscious leisure and business travelers since 1950. The Company maintains a strong presence in domestic leisure travel in virtually all of the top U.S. and Canadian airport markets, and also derives a significant portion of its revenue from international travelers to the U.S. under contracts with various international tour operators. Dollar and Thrifty have approximately 280 corporate locations in
the United States
, with approximately 5,800 employees located mainly in North America. In addition to its corporate operations, the Company maintains global service capabilities through an expansive franchise network of approximately 1,300 franchise locations in 82 countries. For additional information, visit
or the brand sites at
Cautionary Note Concerning Forward-Looking Statements
This communication contains "forward-looking statements". Examples of forward-looking statements include information concerning Hertz's outlook, anticipated revenues and results of operations, as well as any other statement that does not directly relate to any historical or current fact. These forward-looking statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that Hertz has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that Hertz believes are appropriate in these circumstances. We believe these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and our actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative.