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Hertz Finds Equity Sponsor for its Chapter 11 Exit


Hertz Finds Equity Sponsor for its Chapter 11 Exit
05 April 2021
Hertz Global Holdings, Inc. has selected an enhanced proposal from Centerbridge Partners, L.P., Warburg Pincus LLC, and Dundon Capital Partners, LLC to provide the equity capital required to fund Hertz s exit from Chapter 11, keeping the Company on track to conclude its Chapter 11 case in June 2021.
The deal is reflected in definitive executed documents, including, (1) an Equity Purchase and Commitment Agreement, (2) a Plan Support Agreement, (3) a Bridge Financing Commitment for Hertz International Ltd., (4) an Amended Chapter 11 Plan of Reorganization (the Plan ), and (5) an amended Disclosure Statement (collectively, the Transaction Documents ), which have been filed with the Delaware Bankruptcy Court presiding over Hertz s Chapter 11 case. ....

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Hertz Selects Equity Sponsor For Its Chapter 11 Exit


Hertz Selects Equity Sponsor For Its Chapter 11 Exit
Decision Has the Support of Holders of Over 85% of the Company s Unsecured Notes
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ESTERO, Fla., April 3, 2021 /PRNewswire/ Hertz Global Holdings, Inc. (OTCPK:HTZGQ) ( Hertz or the Company ) announced today that it has selected an enhanced proposal from Centerbridge Partners, L.P., Warburg Pincus LLC, and Dundon Capital Partners, LLC (collectively, the Sponsorship Group ) to provide the equity capital required to fund Hertz s exit from Chapter 11, keeping the Company on track to conclude its Chapter 11 case in June 2021. The deal is reflected in definitive executed documents, including, (1) an Equity Purchase and Commitment Agreement, (2) a Plan Support Agreement, (3) a Bridge Financing Commitment for Hertz International Ltd., (4) an Amended Chapter 11 Plan of Reorganization (the Plan ), and (5) an amended Disclosure Statement (collectively, the Tran ....

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