Hertz Plans $4B More Borrowing to Revive Vehicle Fleet: DJ

Hertz Global Holdings plans to line up a $4b financing package to refresh its vehicle fleet, in addition to the $1.65b loan to help it reorganize in bankruptcy, Dow Jones reports, citing company lawyer Tom Lauria.

• Hertz hopes to get commitments for the additional $4b in ABS financing in coming days, Lauria said, according to Dow Jones
• The $1.65b bankruptcy loan will help, but Hertz needs more financing from asset-backed securities, he was cited at the court hearing Thursday
• Hertz has been liquidating parts of its fleet, reducing the number of cars it leases from banks and bondholders as ...