This is a unique ID that you can create in order to login to This is an optional field that can be used in place of your member number that you will receive once you complete the enrollment process.


Note: you will still be able to login to using your member number if you don't choose to create a unique ID.

I Forgot My Member Number
Remember my member number on this browser

News Releases

Media Contact

News Releases

Hertz Global Holdings Completes $825 Million Asset-Backed Note Facility

Sep 15, 2008

PARK RIDGE, NJ -- (MARKET WIRE) -- 09/15/2008 -- Hertz Global Holdings, Inc. (NYSE: HTZ) today announced that it has closed on a new $825 million, 2 year asset-backed variable funding note facility for Hertz Vehicle Financing LLC, its indirect wholly owned subsidiary, to finance cars in its U.S. rental fleet. The facility, which has a maturity date of August 15, 2010, improves the Company's ample liquidity position. The borrowing spread is approximately 150 basis points higher than the Company's existing variable notes.

"We are pleased with the addition of this rental fleet financing facility which, when coupled with liquidity exceeding $4 billion, underscores Hertz's overall financial strength," commented Mark P. Frissora, Hertz's Chairman and Chief Executive Officer.

The Company said that Lehman Brothers, Inc. did not participate in the new facility. Furthermore, Hertz said its funding exposure to Lehman Brothers, Inc. under other facilities is immaterial.

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc. (NYSE: HTZ), is the world's largest general use car rental brand, operating from approximately 8,100 locations in 147 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition. Hertz also operates one of the world's largest equipment rental businesses -- Hertz Equipment Rental -- offering a diverse line of equipment to customers ranging from major industrial companies to local contractors and consumers through nearly 400 branches in the United States, Canada, France, Spain and China.

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. You should not place undue reliance on these statements. Forward-looking statements include information concerning the Company's outlook, anticipated revenues, results of operations and implementation of productivity and efficiency initiatives, including targeted job reductions, and the anticipated savings and restructuring charges expected to be realized or incurred in connection therewith. These statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "should," "forecast" 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. As you read this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Some important factors include: the Company's operations; economic performance; financial condition; management forecasts; efficiencies, cost savings and opportunities to increase productivity and profitability; income and margins; liquidity and availability of additional or continued fleet financing including as a result of the financial instability of the entities providing credit support; anticipated growth; economies of scale; the economy; and refinancing of existing debt. In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this press release might not prove to be accurate. The Company cautions you that you should therefore not rely unduly on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. You should also understand the risks and uncertainties discussed in "Risk Factors" and elsewhere in the Company's 2007 Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as filed with the United States Securities and Exchange Commission, or the "SEC," on February 29, 2008, and its Quarterly Report on Form 10-Q for the three months ended June 30, 2008, as filed with the SEC on August 8, 2008, could affect the Company's future results, and could cause those results or other outcomes to differ materially from those expressed or implied in the Company's forward-looking statements. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.


Investor Relations:
Lauren Babus

Richard Broome