Hertz Vehicle Financing solicits consents for asset-backed notes

Chicago, May 23 – Hertz Global Holdings, Inc. announced that Hertz Vehicle Financing III LP is soliciting consents for seven series of rental car asset-backed notes, according to a statement.

The issuer is seeking to amend some tax-related provisions on certain classes of notes to ease the transfer restrictions; reflect Hertz’s business objective to expand the number of electric vehicles in its U.S. rental car fleet (and allow for more Tesla vehicles); and update the fleet financing program documentation for certain rating agency criteria.

The special purpose vehicle is soliciting consents for the following:

• $1.42 billion outstanding series 2021-1 1.21% class A notes (Cusips: 42806MAA7, U4280MAA9);

• $180 million outstanding series 2021-1 1.56% class B notes (Cusips: 42806MAB5, U4280MAB7);

• $140 million outstanding series 2021-1 2.05% class C notes (Cusips: 42806MAC3, U4280MAC5);

• $260 million outstanding series 2021-1 3.98% class D notes (Cusip: U4280MAC5);

• $1.42 billion outstanding series 2021-2 1.68% class A notes (Cusips: 42806MAE9, U4280MAE1);

• $180 million outstanding series 2021-2 2.12% class B notes (Cusips: 42806MAF6, U4280MAF8);

• $140 million outstanding series 2021-2 2.52% class C notes (Cusips: 42806MAG4, U4280MAG6);

• $260 million outstanding series 2021-2 4.34% class D notes (Cusip: 42806MAH2);

• $525 million outstanding series 2022-1 1.99% class A notes (Cusips: 42806MAJ8, U4280MAJ0);

• $60 million outstanding series 2022-1 2.19% class B notes (Cusips: 42806MAK5, U4280MAK7);

• $67.5 million outstanding series 2022-1 2.63% class C notes (Cusips: 42806MAL3, U4280MAL5);

• $525 million outstanding series 2022-2 2.33% class A notes (Cusips: 42806MAN9, U4280MAN1);

• $60 million outstanding series 2022-2 2.65% class B notes (Cusips: 42806MAP4, U4280MAP6);

• $67.5 million outstanding series 2022-2 2.95% class C notes (Cusips: 42806MAQ2, U4280MAQ4);

• $258.62 million outstanding series 2022-3 3.37% class A notes (Cusips: 42806MAS8, U4280MAS0);

• $40.23 million outstanding series 2022-3 3.86% class A notes (Cusips: 42806MAU3, U4280MAT8);

• $34,483,000 outstanding series 2022-3 4.35% class B notes (Cusips: 42806MAW9, U4280MAU5);

• $458 million outstanding series 2022-4 3.37% class A notes (Cusips: 42806MBA6, U4280MAW1);

• $70 million outstanding series 2022-4 4.12% class B notes (Cusips: 42806MBC2, U4280MAX9);

• $60 million outstanding series 2022-4 4.61% class C notes (Cusips: 42806MBE8, U4280MAY7);

• $246 million outstanding series 2022-5 3.89% class A notes (Cusips: 42806MBJ7, U4280MBA8);

• $38,267,000 outstanding series 2022-5 4.28% class B notes (Cusips: 42806MBL2, U4280MBB6); and

• $32.8 million outstanding series 2022-5 4.82% class C notes (Cusips: 42806MBN8, U4280MBC4).

A consent fee $0.25 for each $1,000 note for which consents are validly delivered by the applicable expiration time will be paid.

The effective time will be promptly after the receipt of the applicable required consents.

Each solicitation will expire at 5 p.m. ET on June 3.

The revocation time will be the earlier of the effective time, if applicable, or the expiration time.

Consents from a majority of holders for each series are needed to make the changes.

D.F. King & Co., Inc. is the information and tabulation agent for the solicitations (877 478-5045, 212 269-5550, hertz@dfking.com).

Deutsche Bank Securities Inc. is the solicitation agent (212 250-2500, Katherine.bologna@db.com).

Hertz is an Estero, Fla.-based auto and equipment rental company.

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