Hertz stock price triggers convertibility of 5.25% notes until June 30

By Tali David

Minneapolis, April 1 - Hertz Global Holdings, Inc. said that holders may continue to convert the company's 5.25% convertible senior notes due 2014 until June 30.

The conversion right was triggered because the company's closing stock price exceeded $10.77 for at least 20 out of the 30 consecutive trading days ending on March 31, according to a company press release.

Hertz's stock (NYSE: HTZ) closed at $22.61 on March 28.

Wells Fargo Bank, NA is the trustee and conversion agent.

Hertz is a Park Ridge, N.J.-based auto and equipment rental company.

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