02/10/2025 | Press release | Distributed by Public on 02/10/2025 07:50
Item 7.01 | Regulation FD Disclosure. |
As previously disclosed in the Form 10-Q filed on November 12, 2024 by Hertz Global Holdings, Inc. and The Hertz Corporation (the "Company"), on July 1, 2021, Wells Fargo Bank, N.A., in its capacity as indenture trustee of (1) 6.250% Unsecured Notes due 2022, (2) 5.500% Unsecured Notes due 2024, (3) 7.125% Unsecured Notes due 2026 and (4) 6.000% Unsecured Notes due 2028 issued by The Hertz Corporation (collectively, the "Unsecured Notes"), filed a complaint against The Hertz Corporation and multiple direct and indirect subsidiaries thereof.
Beginning on February 3, 2025, the Company commenced negotiations with certain holders of the Unsecured Notes (the "Noteholders") with respect to a possible settlement of this litigation (a "Potential Settlement"). Each of the Noteholders has entered into a confidentiality agreement with the Company. The information contained in this Current Report on Form 8-K is being furnished in accordance with each of those confidentiality agreements.
As of February 10, 2025, the Company has not reached an agreement with the Noteholders. On February 3, 2025 the Company made a settlement proposal and on February 6, 2025 the Noteholders made a counter-proposal. The Company intends to continue discussions concerning a Potential Settlement.