Hertz Worldwide Holdings Inc (HTZGQ.PK) acknowledged on Tuesday it had got a revised supply from Knighthead Capital Management, Certares Management and Apollo Worldwide Management to fund the auto rental company’s exit from Chapter 11 financial peril.
The revised supply targets to fund Hertz’s financial peril exit through tell frequent stock investments of $2.9 billion, tell most neatly-most new stock investments of $1.5 billion and a rights offering to raise $1.36 billion.
A media file on Monday acknowledged Knighthead Capital Management and Certares Management’s most stylish supply affords Hertz an endeavor worth of larger than $6.2 billion.
In March, Hertz acknowledged Knighthead and Certares had agreed to lift a majority stake in the corporate for $4.2 billion. study extra
The original supply also opponents a speak backed by deepest funding companies Centerbridge Companions, Warburg Pincus and Dundon Capital Companions, to invent equity capital to fund for Hertz’s exit from financial peril.
Hertz acknowledged it would set up in thoughts the original supply and has no longer decided. The corporate’s shares fell 7% to $2.98 in premarket purchasing and selling.
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