Category: Press Release

ESTERO, Fla., July 18, 2019 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) (the "Company") today announced that its wholly-owned subsidiary, The Hertz Corporation ("Hertz"), intends to offer $500 million aggregate principal amount of senior unsecured notes (the "Notes"), subject to market and other conditions, in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

The Notes will pay interest semi-annually in arrears. The Notes are expected to be guaranteed on a senior unsecured basis by the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time.

Hertz intends to use the proceeds from the issuance of the Notes, together with net proceeds from the Company’s previously announced rights offering, to consummate the redemption of the 2020 Notes and 2021 Notes as described below, pay accrued and unpaid interest in connection with redemption of the 2020 Notes and the 2021 Notes, pay fees and expenses in connection with the foregoing and use any remaining proceeds for general corporate purposes.

On July 12, 2019, Hertz issued conditional notices of redemption to (1) redeem $699.8 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2020 (the "2020 Notes") and (2) redeem an aggregate principal amount of its outstanding 7.375% Senior Notes due 2021 (the "2021 Notes") equal to (i) the net proceeds from one or more capital markets offerings described in the applicable Notice of Conditional Redemption (the "Capital Markets Offerings"), minus (ii) the amount of such net proceeds used to consummate the redemption of the 2020 Notes as determined by Hertz in its sole and absolute discretion.

The redemptions of the 2020 Notes and 2021 Notes are each subject to the satisfaction of specified conditions precedent set forth in the applicable Notice of Conditional Redemption, including the consummation of the Capital Markets Offerings on terms and conditions satisfactory in all respects to Hertz and the amount of net proceeds received from the Capital Markets Offerings. The anticipated redemption date is August 11, 2019 or, if the conditions precedent are not satisfied on or prior to August 11, 2019, such later date (but not later than September 10, 2019) as such conditions precedent are so satisfied.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes (and the guarantees of the Notes) or any other securities, nor will there be any sale of the Notes (or any guarantees of the Notes) or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The Notes (and the guarantees of the Notes) will be issued in reliance on the exemption from the registration requirements provided by Rule 144A under the Securities Act and, outside of the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. None of the Notes (or the guarantees of the Notes) have been registered under the Securities Act or any state or other jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state and other jurisdiction’s securities laws.

This press release does not constitute a notice of redemption under the indentures governing the 2020 Notes or the 2021 Notes, nor an offer to tender for, or purchase, any 2020 Notes, any 2021 Notes or any other security. There can be no assurances that the conditions precedent to the redemptions will be satisfied or that the redemptions will occur.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release include "forward-looking statements." Forward-looking statements include information concerning the rights offering, the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K filed or furnished to the Securities and Exchange Commission ("SEC").

Among other items, such factors could include: the levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; the effect of the Company’s separation of its vehicle and equipment rental businesses, any failure by Herc Holdings Inc. to comply with the agreements entered into in connection with the separation and the Company’s ability to obtain the expected benefits of the separation; significant changes in the competitive environment and the effect of competition in the Company’s markets on rental volume and pricing, including on the Company’s pricing policies or use of incentives; occurrences that disrupt rental activity during the Company’s peak periods; the Company’s ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly; increased vehicle costs due to declines in the value of the Company’s non-program vehicles; the Company’s ability to maintain sufficient liquidity and the availability to it of additional or continued sources of financing for its revenue earning vehicles and to refinance its existing indebtedness; the Company’s ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles it purchases; the Company’s ability to adequately respond to changes in technology and customer demands; the Company’s ability to retain customer loyalty and market share; the Company’s recognition of previously deferred tax gains on the disposition of revenue earning vehicles; an increase in the Company’s vehicle costs or disruption to its rental activity, particularly during its peak periods, due to safety recalls by the manufacturers of its vehicles; the Company’s access to third-party distribution channels and related prices, commission structures and transaction volumes; the Company’s ability to execute a business continuity plan; a major disruption in the Company’s communication or centralized information networks; a failure to maintain, upgrade and consolidate the Company’s information technology networks; financial instability of the manufacturers of the Company’s vehicles; any impact on the Company from the actions of its franchisees, dealers and independent contractors; the Company’s ability to sustain operations during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; the Company’s ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; the Company’s ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; costs and risks associated with litigation and investigations; risks related to the Company’s indebtedness, including its substantial amount of debt, its ability to incur substantially more debt, the fact that substantially all of its consolidated assets secure certain of its outstanding indebtedness and increases in interest rates or in its borrowing margins; the Company’s ability to meet the financial and other covenants contained in its senior credit facilities and letter of credit facility, its outstanding unsecured senior notes, its outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and the Company’s ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on operating results; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticorruption or antibribery laws and the Company’s ability to repatriate cash from non-U.S. affiliates without adverse tax consequences; the Company’s ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations, such as the adoption of new regulations under the Tax Cuts and Jobs Act, where such actions may affect the Company’s operations, the cost thereof or applicable tax rates; risks relating to the Company’s deferred tax assets, including the risk of an "ownership change" under the Internal Revenue Code of 1986, as amended; the Company’s exposure to uninsured claims in excess of historical levels; fluctuations in interest rates and commodity prices; the Company’s exposure to fluctuations in foreign currency exchange rates and other risks and uncertainties described from time to time in periodic and current reports that the Company files with the SEC.

Additional information concerning these and other factors can be found in the Company’s filings with the SEC, including its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Hertz Global Holdings, Inc.

ESTERO, Fla., July 18, 2019 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz Global" or the "Company") today announced the closing of its highly successful, over-subscribed rights offering. At the closing, the Company is issuing an aggregate of 57,915,055 new shares of common stock at the subscription price of $12.95 per share for total gross proceeds of approximately $750 million to the Company. Pursuant to the terms of the rights offering, 55,816,783 shares of common stock are being purchased pursuant to the exercise of basic subscription rights and 2,098,272 shares of common stock are being purchased under the over‑subscription right. After giving effect to the rights offering, the Company will have 142,067,494 shares of common stock issued and outstanding.

Based on the final results, affiliates of Carl C. Icahn are purchasing a total of 17,631,446 shares of common stock pursuant to basic subscription rights and over-subscription rights.

Hertz Global will use the proceeds from the rights offering to deleverage its balance sheet by repaying debt obligations.

Investors who have participated in the rights offering should expect to see the shares of common stock issued to them in book-entry or, uncertificated, form. Any excess subscription payments received by Computershare Trust Company, N.A. (the "subscription agent") will be returned by the subscription agent to investors, without interest or deduction, through the same method by which they participated in the rights offering.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release include "forward-looking statements." Forward-looking statements include information concerning the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K filed or furnished to the Securities and Exchange Commission (the "SEC").

Among other items, such factors could include: the levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; the effect of the Company’s separation of its vehicle and equipment rental businesses, any failure by Herc Holdings Inc. to comply with the agreements entered into in connection with the separation and the Company’s ability to obtain the expected benefits of the separation; significant changes in the competitive environment and the effect of competition in the Company’s markets on rental volume and pricing, including on the Company’s pricing policies or use of incentives; occurrences that disrupt rental activity during the Company’s peak periods; the Company’s ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly; increased vehicle costs due to declines in the value of the Company’s non-program vehicles; the Company’s ability to maintain sufficient liquidity and the availability to it of additional or continued sources of financing for its revenue earning vehicles and to refinance its existing indebtedness; the Company’s ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles it purchases; the Company’s ability to adequately respond to changes in technology and customer demands; the Company’s ability to retain customer loyalty and market share; the Company’s recognition of previously deferred tax gains on the disposition of revenue earning vehicles; an increase in the Company’s vehicle costs or disruption to its rental activity, particularly during its peak periods, due to safety recalls by the manufacturers of its vehicles; the Company’s access to third-party distribution channels and related prices, commission structures and transaction volumes; the Company’s ability to execute a business continuity plan; a major disruption in the Company’s communication or centralized information networks; a failure to maintain, upgrade and consolidate the Company’s information technology networks; financial instability of the manufacturers of the Company’s vehicles; any impact on the Company from the actions of its franchisees, dealers and independent contractors; the Company’s ability to sustain operations during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; the Company’s ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; the Company’s ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; costs and risks associated with litigation and investigations; risks related to the Company’s indebtedness, including its substantial amount of debt, its ability to incur substantially more debt, the fact that substantially all of its consolidated assets secure certain of its outstanding indebtedness and increases in interest rates or in its borrowing margins; the Company’s ability to meet the financial and other covenants contained in its senior credit facilities and letter of credit facility, its outstanding unsecured senior notes, its outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and the Company’s ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on operating results; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticorruption or antibribery laws and the Company’s ability to repatriate cash from non-U.S. affiliates without adverse tax consequences; the Company’s ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations, such as the adoption of new regulations under the Tax Cuts and Jobs Act, where such actions may affect the Company’s operations, the cost thereof or applicable tax rates; risks relating to the Company’s deferred tax assets, including the risk of an "ownership change" under the Internal Revenue Code of 1986, as amended; the Company’s exposure to uninsured claims in excess of historical levels; fluctuations in interest rates and commodity prices; the Company’s exposure to fluctuations in foreign currency exchange rates and other risks and uncertainties described from time to time in periodic and current reports that the Company files with the SEC.

Additional information concerning these and other factors can be found in the Company’s filings with the SEC, including the prospectus supplement filed with the SEC relating to the rights offering, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Hertz Global Holdings, Inc.

ESTERO, Fla., July 16, 2019 /PRNewswire/ — Millennials have named Hertz (NYSE: HTZ) as their favorite global car rental company in the 2019 Trazees Awards.

"Travelers of all ages have many transportation options today and we’re honored that Millennials have chosen Hertz as their favorite car rental provider," said Jayesh Patel, Hertz Senior Vice President of Brand. "This recognition shows that we’re focused on the right things – providing exceptional service, top-rated vehicles and innovations that speed up their travels such as our redesigned mobile app and Hertz Fast Lane powered by CLEAR."

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"We also know that Millennials value having memorable experiences when they travel and that’s why we’re here to help them get there and enjoy those moments that matter like exploring a coastal town in a sporty convertible, getting to a job interview in a new city or reuniting with friends for a wedding," Patel added. "We’re also committed to enhancing their journey by introducing new experiential rewards and benefits through our Hertz Gold Plus Rewards loyalty program, offering exciting vacation giveaways, enabling customers to book personalized travel experiences in thousands of destinations through our Hertz+ platform and more."

Hertz moved up from the second spot in the car rental category from last year in the Trazees Awards which are voted on annually by Millennial readers of trazeetravel.com, the sister web publication to Global Traveler, globaltravelerusa.com and whereverfamily.com. Trazee Travel is a one-stop resource for travelers aged 25-40 with news, tips, reviews and more. Reader nominations for The Trazees were collected from December 2018-March 2019.

ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar, Thrifty and Firefly vehicle rental brands in approximately 10,200 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen, operates the Hertz 24/7 car sharing business in international markets, and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

SOURCE The Hertz Corporation

Related Links

http://www.hertz.com

ESTERO, Fla., July 15, 2019 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz Global" or the "Company") today announced the preliminary results of its highly successful, over-subscribed rights offering following the expiration of the subscription period at 5:00 p.m., Eastern Time, on July 12, 2019 (the "expiration date"). According to Computershare Trust Company, N.A., the subscription agent for the rights offering, as of the expiration date, 68,604,395 basic subscription rights were exercised to purchase an aggregate of 47,218,016 shares of common stock and 303,590,241 additional shares of common stock were subscribed for under the over-subscription right, subject to proration. In addition, 20,781,699 basic subscription rights were exercised subject to guaranteed delivery and 70,708,114 additional shares of common stock were subscribed for pursuant to the over-subscription right subject to guaranteed delivery and proration. The shares of common stock were purchased at the subscription price of $12.95 per whole share. The Company expects the subscription agent to distribute the shares of common stock and the proceeds from the rights offering on or about July 18, 2019.

The results of the rights offering, including the allocation of shares to be issued in the rights offering, are preliminary and subject to change pending the expiration of the guaranteed delivery period under the rights offering and finalization of subscription procedures by the subscription agent. Hertz expects to issue a press release on or about July 18, 2019 to announce the final results of the rights offering.

Hertz will receive aggregate gross proceeds of approximately $750 million from the rights offering and expects to use the proceeds to deleverage its balance sheet by repaying debt obligations.

If a holder did not exercise its subscription rights prior to the expiration date, such rights have expired and are void and have no value, and such holder owns the same number of shares of Hertz common stock as such holder did before the commencement of the rights offering.

A shelf registration statement on Form S-3 relating to the rights and shares of common stock was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective on June 12, 2019. A prospectus relating to the rights offering was filed with the SEC on June 13, 2019 and is available on the SEC’s website.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release include "forward-looking statements." Forward-looking statements include information concerning the rights offering, the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K filed or furnished to the SEC.

Among other items, such factors could include: the levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; the effect of the Company’s separation of its vehicle and equipment rental businesses, any failure by Herc Holdings Inc. to comply with the agreements entered into in connection with the separation and the Company’s ability to obtain the expected benefits of the separation; significant changes in the competitive environment and the effect of competition in the Company’s markets on rental volume and pricing, including on the Company’s pricing policies or use of incentives; occurrences that disrupt rental activity during the Company’s peak periods; the Company’s ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly; increased vehicle costs due to declines in the value of the Company’s non-program vehicles; the Company’s ability to maintain sufficient liquidity and the availability to it of additional or continued sources of financing for its revenue earning vehicles and to refinance its existing indebtedness; the Company’s ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles it purchases; the Company’s ability to adequately respond to changes in technology and customer demands; the Company’s ability to retain customer loyalty and market share; the Company’s recognition of previously deferred tax gains on the disposition of revenue earning vehicles; an increase in the Company’s vehicle costs or disruption to its rental activity, particularly during its peak periods, due to safety recalls by the manufacturers of its vehicles; the Company’s access to third-party distribution channels and related prices, commission structures and transaction volumes; the Company’s ability to execute a business continuity plan; a major disruption in the Company’s communication or centralized information networks; a failure to maintain, upgrade and consolidate the Company’s information technology networks; financial instability of the manufacturers of the Company’s vehicles; any impact on the Company from the actions of its franchisees, dealers and independent contractors; the Company’s ability to sustain operations during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; the Company’s ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; the Company’s ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; costs and risks associated with litigation and investigations; risks related to the Company’s indebtedness, including its substantial amount of debt, its ability to incur substantially more debt, the fact that substantially all of its consolidated assets secure certain of its outstanding indebtedness and increases in interest rates or in its borrowing margins; the Company’s ability to meet the financial and other covenants contained in its senior credit facilities and letter of credit facility, its outstanding unsecured senior notes, its outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and the Company’s ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on operating results; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticorruption or antibribery laws and the Company’s ability to repatriate cash from non-U.S. affiliates without adverse tax consequences; the Company’s ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations, such as the adoption of new regulations under the Tax Cuts and Jobs Act, where such actions may affect the Company’s operations, the cost thereof or applicable tax rates; risks relating to the Company’s deferred tax assets, including the risk of an "ownership change" under the Internal Revenue Code of 1986, as amended; the Company’s exposure to uninsured claims in excess of historical levels; fluctuations in interest rates and commodity prices; the Company’s exposure to fluctuations in foreign currency exchange rates and other risks and uncertainties described from time to time in periodic and current reports that the Company files with the SEC.

Additional information concerning these and other factors can be found in the Company’s filings with the SEC, including the prospectus filed with the SEC relating to the rights offering, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Hertz Global Holdings, Inc.

LONDON, July 11, 2019 /PRNewswire/ — Hertz Europe Ltd, part of Hertz Global Holdings, Inc. (NYSE: HTZ), has announced that customers of Hertz, Dollar and Thrifty can now rent a car using a valid debit card in a host of countries across Europe. The new, easy payment option gives customers with a Debit Mastercard or other recognised debit cards access to standard car and van rentals at key European locations, opening up the rental market for new users in time for the summer holiday season.

The updated policy applies to locations in Belgium, Czech Republic, France, Germany, Italy, Luxembourg, The Netherlands, Slovakia, mainland Spain and the UK.

Although the majority of people renting cars today pay with a credit card, many people across Europe do not have access to one. In addition, recent Mastercard research shows that people are increasingly using their debit card. In 2016, more than seventy percent (70%) of all card payment transactions in Europe were made with debit cards, representing over €2 trillion in card payments¹, with additional research showing that fifty percent (50%) of people carry debit cards only².

Tracy Gehlan, Senior Vice President, Hertz Europe, commented: "A significant number of people do not have access to a credit card or simply prefer to use their debit card for certain transactions. With the holiday season fast approaching, we are pleased to make it easier for our customers to pay by debit card in thousands of locations across Europe. The new ‘pay your own way’ option is all about offering customers greater flexibility, convenience and choice in how they rent from us, putting them in the driving seat."

Gehlan added: "As part of our ongoing commitment to customer excellence, our guests wishing to use a debit card can expect the same ease of service as with a credit card."

Mauro Fiorentino, Vice President of Merchant Partnerships at Mastercard commented: "We know people’s choice of how to pay differs, so it’s essential we work together with partners like Hertz to broaden acceptance and give customers that choice in how to pay. Enabling Debit Mastercard acceptance at Hertz, Dollar and Thrifty is a major step forward and it will improve the overall customer experience for our cardholders across Europe."

Customers who prefer to use a debit card must have a Debit Mastercard or other recognised debit cards, and will undergo the same ID and Driving Licence checks before renting the vehicle. A pre-authorised deposit for the vehicle will be held on the customer’s account.

Once the vehicle has been returned, reserved amount/deposit will be released less any owed charges. Typically, it can take four to seven days for the customer’s deposit to appear back in their account, depending on the card issuer. Hertz advises customers to check with their card issuer for further details.

Further details along with the terms and conditions of the new policy, can be found on https://www.hertz.co.uk/p/debit-card-information

¹ Source: Retail Banking Research – Cards Issuing and Acquiring Europe, 2016
² Source: Lafferty Group, RBR (Retail Banking Report), ECB Payment Statistics

Additional Notes

Further details on how the updated policy works:

• At the time of pick-up the main driver will need to present a valid driver’s licence, a passport or ID card, and the credit or debit card that was used for the booking online. This MUST be presented by the person in whose name the vehicle was booked.
• Hertz, Dollar or Thrifty will reserve credit (if paying with a credit card) or take a pre-authorised deposit (if paying with a debit card) to cover the estimated charges arising from the customer’s rental, including a full tank of fuel. The reserved credit/deposit will be released on final calculation and payment of the rental charges on return (minus any charges). Customers should check with their card issuer on when their deposit will appear in their account (est. 4-7 days, but it could take up to 30 days).
• At the time of rental, credit or charge cards must have available credit, and acceptable debit/check cards must have available funds, sufficient to pay the estimated amount of the rental charges plus the credit reserved or deposit pre-authorised by Hertz, Dollar or Thrifty.
• Customers may find a slight variation between the exchange rate received when collecting their car compared to when they return it. The exchange rate is given to customers by their bank, so customers are advised to refer to their bank’s policy for more information.
• For some car groups (Premium) the driver may be required to present one or two credit cards. Details can be found in the Forms of Payment information.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets, and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

SOURCE The Hertz Corporation

Related Links

http://www.hertz.com

ESTERO, Fla., July 1, 2019 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) announced today that it plans to report its second quarter 2019 financial results after market close on Tuesday, August 6 and will host its accompanying webcast and conference call to discuss such results on Wednesday, August 7 at 8:30 a.m. ET.

This webcast and conference call can be accessed through a link on the Investor Relations section of the Hertz website, ir.hertz.com, or by dialing (800) 230-1059 and providing passcode 469574. Investors are encouraged to dial-in approximately 10 minutes prior to the call. A web replay will remain available for approximately one year. A telephone replay will be available one hour following the conclusion of the call for one year at (800) 475-6701 with pass code 469574.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 corporate and franchisee locations throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

SOURCE Hertz Global Holdings, Inc.

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LONDON, June 18, 2019 /PRNewswire/ — Hertz Europe Ltd, part of Hertz Global Holdings, Inc. (NYSE: HTZ) has unveiled "Kollektion 7 – Made in Germany," a new collection of 7 prestige vehicles, celebrating luxury German marques, engineering expertise – and high-end customer service; in the birthplace of the car.

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Launching at Frankfurt Airport, the new "Kollektion 7 – Made in Germany" includes prestige vehicles from top German brands: BMW, Mercedes Benz and Porsche. The new country collection proposition, featuring luxurious Kollektion 7-branded lounges, is rolling out to six further locations across Germany, with Düsseldorf and Munich launching later in 2019.

"With the launch of our Kollektion 7 prestige offer we are meeting customer demand for an exceptional driving experience and exclusive service, combined in a stylish leisure offering," said Alida Scholtz, Managing Director of Hertz Germany. "Around the world, the ‘Made in Germany’ moniker is a hallmark of quality and engineering excellence. This new collection brings those values to life – allowing Hertz customers to experience premium automotive and high-end German brands in a unique, engaging, and entertaining way."

Kollektion 7 includes a choice of iconic German models, for a range of driving experiences: the luxury BMW M850i Cabriolet, BMW Z4, Mercedes-AMG GT and Mercedes-AMG GT 63 4-door coupe, Porsche 718 Boxster, Porsche Macan S, and Porsche Panamera E-Hybrid. All models will be available in the colours of the German flag: black, red and yellow.

Each of the seven locations will offer customers a unique, city-specific driving experience, giving visitors the opportunity to get to know the specific characteristics of different regions – and to discover what makes Germany so special, with unique insights from Hertz. Guests can also start sampling the local gastronomic treats as soon as they enter their chosen vehicle, thanks to a gift basket which provides a sample of local fare.

The two BMW convertibles – the BMW M850i Cabriolet and the BMW Z4 – offer a choice of options for the summer. The models combine sportiness with progressive design and exceptional comfort. Thanks to state-of-the-art technology and performance of 258 hp on the Z4, and 530 hp in the 8-cylinder twin-turbo BMW M850i, both offer an outstanding driving experience.

Currently available exclusively from Hertz, the Mercedes-AMG GT has been used as a safety car in Formula 1 since 2015. With a top speed of 304 km / h, the Mercedes-AMG GT combines sports car heritage with practicality. The Mercedes-AMG GT 63 4-door coupé is a top-of-the-range four-door model, and accelerates from 0 to 100 km / h in just 3.4 seconds.

There are three models from Porsche in the Kollektion 7. The Porsche 718 Boxster combines the spirit of the legendary Boxster series with striking design and, for the first time, a turbocharged 4-cylinder Boxer engine. The compact SUV Porsche Macan S blends sportiness, design and practicality with impressive efficiency – an ideal choice for family outings. The Porsche Panamera E-Hybrid, meanwhile, demonstrates that top performance is also sustainable. With the electric sedan, drivers can cover 50 kilometres purely on electric power – and with the additional petrol engine, the Porsche offers 462 hp.

A themed Kollektion 7 lounge, featuring a dedicated logo in black, red and yellow, enables customers to relax in comfort ahead of their journey. Kollektion 7 customers benefit from comprehensive additional benefits such as a concierge service that accompanies customers to the Kollektion 7 pick-up areas and introduces them to the highlights of the vehicles. as well as a pick-up and preferred return service, for an accelerated rental experience.

Kollektion 7: Made in Germany is the latest example of Hertz’s commitment to meet every customer’s need including offering the best premium fleet options and luxury, tailored experiences across its markets. The Hertz premium fleet offer is supported by the current international marketing campaign; "Cars so great you’ll never want to get out".

Earlier this year Hertz launched its British Collection in the UK – a premium customer service rental offer, featuring a suite of Best-of-British services and products, with models including the Land Rover Discovery Sport and the Jaguar F Pace, E Pace, XE and XF.

More recently, Hertz expanded its Selezione Italia offer to include the Alfa Romeo Giulia Quadrifoglio, the most powerful production Alfa ever built.

Terms and conditions apply. For bookings and further information please visit www.hertz.com

*Customers choosing Kollektion 7: Made in Germany benefit from 7 high-end customer service benefits:

1. A make-and-model guarantee – meaning that the car booked is the one they drive away with
2. Pre-pick up courtesy call
3. Expedited rental experience (and lounge)
4. Gate pick-up and escort to Kollektion 7 pick up area
5. Dedicated staff to introduce you to highlights of the car
6. 7 inspirational driving itineraries, showcasing the best of Germany
7. Expedited return service and post-rental follow up

ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets, and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

SOURCE The Hertz Corporation

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ESTERO, Fla., June 13, 2019 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz Global" or the "Company") today announced that its board of directors has approved a rights offering to raise proceeds of up to $750 million. Pursuant to the rights offering, each stockholder of the Company will receive one transferable subscription right ("right") for each share of common stock held as of 5:00 p.m., Eastern Time, on June 24, 2019 (the "record date"). The rights offering will be made only by means of a prospectus, and this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Company’s securities.

SUMMARY OF THE TERMS OF THE OFFERING

• Each right entitles the holder to purchase 0.688285 shares of the Company’s common stock (the "basic subscription right"), at the subscription price of $12.95 per whole share of common stock (the "subscription price").
• Rights holders who fully exercise their basic subscription rights will be entitled to subscribe for additional shares of the Company’s common stock that remain unsubscribed as a result of any unexercised basic subscription rights (the "over-subscription right"). The over-subscription right allows a rights holder to subscribe for additional shares of the Company’s common stock at the subscription price on a pro rata basis.
• No fractional shares of common stock will be issued in the rights offering. Any fractional shares of common stock created by the exercise of the rights will be rounded down to the nearest whole share.
• The distribution of the rights is expected to commence on June 26, 2019 to stockholders of record as of the record date.
• Trading in the rights on the New York Stock Exchange (the "NYSE") is expected to begin on a "when-issued" basis on June 20, 2019 under the symbol "HTZ RTWI". Trading in the rights on the NYSE is expected to begin on a "regular way" basis on June 27, 2019 under the symbol "HTZ RT" and continue until the close of trading on the NYSE on July 11, 2019 (or if the offer is extended, on the business day immediately prior to the extended expiration date).
• The rights offering expires at 5:00 p.m., Eastern Time, on July 12, 2019 (the "expiration date"), unless extended by the Company.

The subscription agent for the rights offering will send a rights certificate to each registered holder of the Company’s common stock as of the close of business on the record date, based on the Company’s stockholder registry maintained at the transfer agent for its common stock. Holders of shares of common stock in "street name" through a brokerage account, bank, or other nominee will not receive a physical rights certificate, and instead, such holders must instruct their broker, bank, or nominee whether or not to exercise subscription rights on their behalf. For any questions or further information about the rights offering, please call Georgeson LLC, the information agent for the rights offering, at (888) 607-6511 (toll‑free).

The rights offering will be made pursuant to the Company’s effective shelf registration statement on Form S-3 (Reg. No. 333- 231878) on file with the Securities and Exchange Commission (the "SEC") and a prospectus supplement to be filed with the SEC prior to the commencement of the rights offering.

The information herein is not complete and is subject to change. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the rights, common stock or any other securities, nor will there be any sale of the rights, common stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This document is not an offering, which can only be made by a prospectus. The base prospectus contains this and additional information about the Company and the prospectus supplement will contain this and additional information about the rights offering, and should be read carefully before investing. For any questions or further information about the rights offering, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact Georgeson LLC, the information agent for the rights offering, at (888) 607-6511 (toll‑free).

RIGHTS OFFERING WEBCAST

On June 13, 2019 at 8:30 a.m., Eastern Time, the Company will conduct a live webcast and conference call to discuss the rights offering, which can be accessed through a link on the Investor Relations section of the Hertz website, IR.Hertz.com, or by dialing (800) 230-1074 or (612) 234-9960. Certain financial information relating to the Company’s second quarter 2019 outlook will be discussed on the webcast and is included in the prospectus supplement to be filed related to the rights offering. The webcast will include discussion of a non-GAAP financial measure that is detailed in the prospectus supplement to be filed related to the rights offering.

ABOUT HERTZ

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 10,200 company-owned, licensee and franchisee locations throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release include "forward-looking statements." Forward-looking statements include information concerning the rights offering, the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as "believe," "expect," "project," "potential," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K filed or furnished to the Securities and Exchange Commission ("SEC").

Among other items, such factors could include: whether the Company will distribute rights on June 26, 2019 to its stockholders of record; whether stockholders of record will have until July 12, 2019 to exercise their rights; the Company’s expectations that the rights will be admitted for trading on the NYSE; the expiration date of the rights offering; the levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; the effect of the Company’s separation of its vehicle and equipment rental businesses, any failure by Herc Holdings Inc. to comply with the agreements entered into in connection with the separation and the Company’s ability to obtain the expected benefits of the separation; significant changes in the competitive environment and the effect of competition in the Company’s markets on rental volume and pricing, including on the Company’s pricing policies or use of incentives; occurrences that disrupt rental activity during the Company’s peak periods; the Company’s ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly; increased vehicle costs due to declines in the value of the Company’s non-program vehicles; the Company’s ability to maintain sufficient liquidity and the availability to it of additional or continued sources of financing for its revenue earning vehicles and to refinance its existing indebtedness; the Company’s ability to purchase adequate supplies of competitively priced vehicles and risks relating to increases in the cost of the vehicles it purchases; the Company’s ability to adequately respond to changes in technology and customer demands; the Company’s ability to retain customer loyalty and market share; the Company’s recognition of previously deferred tax gains on the disposition of revenue earning vehicles; an increase in the Company’s vehicle costs or disruption to its rental activity, particularly during its peak periods, due to safety recalls by the manufacturers of its vehicles; the Company’s access to third-party distribution channels and related prices, commission structures and transaction volumes; the Company’s ability to execute a business continuity plan; a major disruption in the Company’s communication or centralized information networks; a failure to maintain, upgrade and consolidate the Company’s information technology networks; financial instability of the manufacturers of the Company’s vehicles; any impact on the Company from the actions of its franchisees, dealers and independent contractors; the Company’s ability to sustain operations during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; the Company’s ability to maintain favorable brand recognition and a coordinated branding and portfolio strategy; the Company’s ability to maintain an effective employee retention and talent management strategy and resulting changes in personnel and employee relations; costs and risks associated with litigation and investigations; risks related to the Company’s indebtedness, including its substantial amount of debt, its ability to incur substantially more debt, the fact that substantially all of its consolidated assets secure certain of its outstanding indebtedness and increases in interest rates or in its borrowing margins; the Company’s ability to meet the financial and other covenants contained in its senior credit facilities and letter of credit facility, its outstanding unsecured senior notes, its outstanding senior second priority secured notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and the Company’s ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on operating results; risks associated with operating in many different countries, including the risk of a violation or alleged violation of applicable anticorruption or antibribery laws and the Company’s ability to repatriate cash from non-U.S. affiliates without adverse tax consequences; the Company’s ability to prevent the misuse or theft of information it possesses, including as a result of cyber security breaches and other security threats; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations, such as the adoption of new regulations under the Tax Cuts and Jobs Act, where such actions may affect the Company’s operations, the cost thereof or applicable tax rates; risks relating to the Company’s deferred tax assets, including the risk of an "ownership change" under the Internal Revenue Code of 1986, as amended; the Company’s exposure to uninsured claims in excess of historical levels; fluctuations in interest rates and commodity prices; the Company’s exposure to fluctuations in foreign currency exchange rates and other risks and uncertainties described from time to time in periodic and current reports that the Company files with the SEC.

Additional information concerning these and other factors can be found in the Company’s filings with the SEC, including the prospectus supplement to be filed with the SEC relating to the rights offering, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Hertz Global Holdings, Inc.

ESTERO, Fla., June 4, 2019 /PRNewswire/ — The Hertz Corporation, (NYSE: HTZ) one of the world’s largest car rental companies, today announced a vehicle-subscription service that will give customers even more flexibility and freedom with their transportation needs. Hertz My Car, which is available in Atlanta, Georgia and Austin, Texas, will give customers access to Hertz’s best fleet ever, including a diverse range of sedans, crossovers, SUVs and trucks through a convenient, all-inclusive monthly subscription. Hertz will offer two tiers of the program to best suit customers’ preferences.

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"Hertz My Car enables customers to choose vehicles that best match their needs and offers freedom and flexibility from vehicle ownership and maintenance costs, which is especially appealing to those seeking alternatives to owning or leasing a car," said Jayesh Patel, Hertz Senior Vice President of Brand. "Atlanta and Austin are prime testing grounds with diverse and progressive communities and we look forward to combining the insights we gain there with our fleet management and service expertise to expand Hertz My Car leveraging our extensive network of more than 3,500 Hertz locations nationwide."

Consumer preferences toward vehicle ownership and leasing are shifting. According to a survey by Cox Automotive, nearly 40 percent of those surveyed said that while access to transportation is necessary, owning a vehicle is not. For urban respondents, 57 percent said private vehicle ownership is not necessary to get from point A to point B.

For consumers interested in vehicle subscription, Hertz My Car provides a hassle-free, all-inclusive solution that gives customers access to a wide variety of vehicles that fit their budget and needs, and with no long-term commitments.

How Hertz My Car Works
Subscribers to Hertz My Car have the flexibility to choose from two subscription tiers. Tier One, at $999* includes full-size sedans, small SUVs and trucks, while Tier Two offers luxury sedans, regular SUVs and large trucks for $1,399*. Customers can exchange their vehicle twice a month to another make or model within the tier so they always have the vehicle that best fits their needs. The all-inclusive monthly subscription covers vehicle maintenance, roadside assistance, vehicle damage and limited liability protection.

"As we see consumer transportation needs change, it’s an exciting time to further evolve our products and services to deliver on our value proposition – at Hertz, we’re here to get you there," said Patel. "We feel well positioned to lead in vehicle subscription services. We’ve seen growth in our longer-term rentals in recent years which we believe is one of several positive indicators the time is right for this service. We also have a strong and consistent focus on enhancing our customers’ experience including recent innovations such as our redesigned mobile app and Hertz Fast Lane powered by CLEAR that gets customers on the road faster than before."

Innovative and Evolving Mobility Solutions
Hertz My Car is part of Hertz’s continued commitment to meet consumers’ unique and individual transportation needs with a wide variety of innovative transportation solutions domestically and globally. Hertz My Car is Hertz’s first subscription service in the U.S. that builds on its multi-month rental program. The company also provides ride-hailing rental programs, corporate rental and vehicle leasing programs, and sells used vehicles through Hertz Car Sales and Hertz Rent2Buy. Hertz also recently launched a weekend vehicle subscription program in Italy – My Hertz Weekend and provides chauffer services and the touchless, hourly car rental program Hertz 24/7 in select international markets.

For more information about Hertz My Car, visit www.hertz.com/hertzmycar.

*Taxes excluded. Upon subscription approval, there is a one-time enrollment fee of $250. Terms & conditions apply.

ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar, Thrifty and Firefly vehicle rental brands in approximately 10,200 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen, operates the Hertz 24/7 car sharing business in international markets, and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

SOURCE The Hertz Corporation

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ESTERO, Fla., May 15, 2019 /PRNewswire/ — Hertz officially launched its new scholarship program as part of the company’s commitment to community impact through global giving and volunteerism. Through the Hertz Scholarship Program, the company has committed to providing financial support during the 2019-2020 academic year to more than 125 individuals from different backgrounds.

The Hertz Scholarship Program is the centerpiece of the company’s education pillar, which is intended to help deserving students pursue postsecondary education, including vocational school, to develop meaningful careers. The company’s other global giving and volunteerism pillars are disaster relief and environmental stewardship.

In an effort to support Hertz employees and their families living in North America and Europe, the company is offering scholarships to employees’ dependents who have financial need. Hertz is also providing need-based awards to community members living in key areas where Hertz has a strong presence, including Bay Area (California); Boston, Massachusetts; Denver, Colorado; Hawaii; Minneapolis, Minnesota; and Salt Lake City, Utah.

In addition to these need-based awards, the Hertz Scholarship Program will award merit-based scholarships to students pursuing degrees in areas related to information technology and revenue management at select universities as well as interning at the company’s global headquarters in Estero.

"We’re thrilled to officially launch the Hertz Scholarship Program," said Leslie Hunziker, Senior Vice President, Investor Relations, Corporate Communications, and Sustainability. "It’s a great way to support our employees, our communities and the next generation of promising young minds. The Hertz Scholarship Program is one important way we’re doing this, and we plan to continue making a positive impact globally through our charitable giving and volunteerism efforts."

To learn more about and apply for a scholarship, visit:

• https://apply.scholarsapply.org/hertzemployee/, if you are a Hertz employee’s dependent
• https://apply.scholarsapply.org/hertzcommunity/, if you are a community member or university student

The application period for the 2019-2020 academic year runs from May 9 through June 6. If you have any questions, please email hertzcommunity@scholarshipamerica.org or phone 1-507-931-1682 and ask for The Hertz Scholarship.

Note: The Hertz Scholarship Program, with the exception of the internship program, is being administered by the leading educational non-profit, Scholarship America.

ABOUT HERTZ
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar, Thrifty and Firefly vehicle rental brands in approximately 10,200 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide rental companies, and the Hertz brand is one of the most recognized in the world. Product and service initiatives such as Hertz Gold Plus Rewards, Ultimate Choice, Carfirmations, Mobile Wi-Fi and unique vehicles offered through its specialty collections set Hertz apart from the competition. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen, operates the Hertz 24/7 car sharing business in international markets, and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit: www.hertz.com.

SOURCE The Hertz Corporation

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