U.S. general use car rental brand, Hertz, will raise a total of about $500 million in a note sale. The wholly-owned subsidiary of Hertz Global Holdings will use the proceeds to redeem a portion of its outstanding 8.875% senior dollar notes due 2014. The bonds, which carry a coupon rate of 6.75%, will mature on April 15, 2019. The joint book-running managers for the sale are Barclays, Citi, Credit Agricole, Deutsche Bank, JP Morgan, Bank of America Merrill Lynch and Wells Fargo, adds Reuters.
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