Loan & DebtApr 30, 2026, 04:40 PM
HTZ Subsidiary Issues $221.4M Class E Asset-Backed Notes
AI Summary
Hertz Vehicle Financing III LLC (HVF III), a wholly-owned subsidiary of The Hertz Corporation, issued $221.4 million in new Class E Fixed Rate Rental Car Asset Backed Notes. This was accomplished through Amendment No. 1 to eleven existing Series Supplements, ranging from 2022-5 to 2025-6. The issuance met all necessary conditions, including the satisfaction of rating agency conditions and receipt of legal opinions. Approximately $22 million of these notes were acquired by affiliates of CK Amarillo LP, with the remaining amount purchased by unaffiliated third parties.
Key Highlights
- HVF III, a Hertz subsidiary, issued new Class E Fixed Rate Rental Car Asset Backed Notes.
- The aggregate principal amount of the Class E Notes issued is $221,421,000.
- Amendments were made to eleven Series Supplements (2022-5 through 2025-6) to facilitate the issuance.
- Approximately $22 million of the Class E Notes were purchased by affiliates of CK Amarillo LP.
- The remaining Class E Notes were purchased by unaffiliated third parties.
- The issuance satisfied all required conditions, including rating agency conditions and legal opinions.