Hertz on track to cut interest bill with 4.375% talk

Hertz, the US car rental business, hopes to price its €425m five year bond in the 4.375% area later today.

  • By Stefanie Linhardt
  • 13 Nov 2013

Initial price talk was released on Tuesday evening in the 4.25% to 4.5% area, and later fixed at 4.375% area.

Price guidance at this level means Hertz should be able to achieve substantial interest cost reductions, as the proceeds of the bond will refinance its €400m 2015 bond, which ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%