Hertz Investor Presentation Deck
OVERVIEW OF KEY DIP FINANCING TERMS
Size
Use of proceeds
Draw structure
Maturity
Structure
Task
Prepare/Provide Key Diligence Items
Launch Process/Begin Outreach
Negotiate NDA
Provide Parties with Diligence Materials
Request and Evaluate Indicative Proposals
■
14-21 Day Notice Period Prior to Hearing
Court Hearing
Interim Approval and Initial Draw
■
12 18 months
Summary of Key Terms
$1.1bn- $1.5bn
$400mm- $600mm for general corporate purposes (e.g., working capital, lease payments, etc.)
$500mm - $1.0bn for funding equity portion of new vehicle purchases
Delayed draw or revolver structure
Negotiate Proposals
Negotiate and Finalize Key Documents (Credit Agreement, Pleadings, etc.)
File Motion with the Court
First priority liens on unencumbered assets and junior liens on encumbered assets
However, all offers will be considered (e.g., priming, junior, unsecured)
Preliminary Timeline
24th
Hertz dollar. Thrifty DONLEN
CAR RENTAL
CAR RENTAL
A Hertz Company
August
31st
7th
Week Of
September
14th
21st
Strictly Confidential
Subject to CA/ NDA
28th
5th
October
12th+
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