PARK RIDGE, N.J., Nov. 12, 2013 /PRNewswire/ -- Hertz Global Holdings, Inc. ( NYSE: HTZ) (the "Company") announced today that its wholly-owned subsidiary Hertz Holdings Netherlands B.V., a private company with limited liability incorporated under the laws of the Netherlands (the "Issuer"), intends to offer €425 million aggregate principal amount of senior notes (the "Notes") in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), subject to market and other conditions.
The Notes will pay interest semi-annually in arrears. The Notes are expected to be guaranteed on a senior unsecured basis by the Company's wholly-owned subsidiary, The Hertz Corporation ("Hertz"), the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time, and certain of the foreign subsidiaries of Hertz that guarantee its European revolving credit facility from time to time.
The Issuer intends to use the net proceeds from the issuance of the Notes to redeem all of its outstanding 8.50% Senior Secured Notes due July 2015.This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes (and the guarantees of the Notes) or any other securities, nor will there be any sale of the Notes (or any guarantees of the Notes) or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The Notes (and the guarantees of the Notes) will be issued in reliance on the exemption from the registration requirements provided by Rule 144A under the Securities Act and, outside of the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. None of the Notes and such guarantees have been registered under the Securities Act or any state or other jurisdiction's securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state and other jurisdiction's securities laws. ABOUT THE COMPANY Hertz is the largest worldwide airport general use car rental brand, operating from approximately 11,200 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest airport general use car rental brand, operating from approximately 9,770 corporate and licensee locations in approximately 150 countries. Our Dollar and Thrifty brands have approximately 1,410 corporate and franchise locations in approximately 80 countries. Hertz is the number one airport car rental brand in the United States and at approximately 130 major airports in Europe. Our Hertz brand name is one of the most recognized in the world, signifying leadership in quality rental services and products. We are one of the only car rental companies that has an extensive network of company‑operated rental locations both in the United States and in all major European markets. We believe that we also maintain the second largest market share, by overall reported revenues, in the off-airport car rental market in the United States. We own a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services. In our equipment rental business segment, we rent equipment through approximately 340 branches in the United States, Canada, France, Spain, China and Saudi Arabia, as well as through our international licensees. We and our predecessors have been in the car rental business since 1918 and in the equipment rental business since 1965. We own Donlen Corporation, which is a leader in providing vehicle leasing and fleet management services and we also operate the Hertz On Demand car sharing business. CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS Certain statements contained in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning our liquidity, outlook, anticipated revenues and possible or assumed future results of operations, including descriptions of our business strategy, 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 the Company 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 the Company 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. They involve risks, uncertainties and assumptions. Many factors could affect our actual financial and operating results and could cause actual results to differ materially from those expressed in the forward-looking statements, due to a variety of important factors, both positive and negative.
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