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Hertz Global Holdings Announces Proposed $500 Million Private Offering of Senior Notes by The Hertz Corporation

ESTERO, Fla., Sept. 8, 2016 /PRNewswire/ -- Hertz Global Holdings, Inc. (HTZ) (the "Company") announced today that its wholly-owned subsidiary The Hertz Corporation ("Hertz"), intends to offer $500 million aggregate principal amount of senior notes (the "Notes"), subject to market and other conditions, in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

The Notes will pay interest semi-annually in arrears. The Notes are expected to be guaranteed on a senior unsecured basis by the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time.

In connection with the offering of the Notes, Hertz intends to redeem an aggregate principal amount of Hertz's 6.75% Senior Notes due 2019 (the "2019 Notes") equal to the gross proceeds of the Offering in accordance with the terms of the Indenture, dated as of February 8, 2011, as supplemented (the "Indenture"), among Hertz, the guarantors from time to time party thereto, and the Trustee.

The Company also 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, expects to offer up to €225 million aggregate principal amount of senior notes during the week of September 12, 2016, in a private offering exempt from the registration requirements of the Securities Act, subject to market and other conditions.

Neither of the two offerings is contingent upon the successful completion of the other offering.

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. This press release does not constitute a notice of redemption under the Indenture for the 2019 Notes nor an offer to tender for, or purchase, any 2019 Notes or any other security.

Hertz Global operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,000 corporate and franchisee locations throughout North America, Europe, Latin America, Africa, the Middle East, Asia, Australia, and...


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