Kidpik (PIK) Prnewswire·2024-12-05 13:30Core Viewpoint - Hertz Global Holdings, Inc. is soliciting consents from holders of its existing First Lien Senior Secured Notes and Exchangeable Senior Second-Lien PIK Notes to amend certain provisions of the indentures governing these notes [1][2]. Consent Solicitations - The consent solicitations for the Existing Notes are being conducted under the terms outlined in the Consent Solicitation Statement dated December 5, 2024 [2]. - The expiration date for the consent solicitations is set for 5:00 p.m. New York City time on December 12, 2024, unless extended or terminated by the Company [3]. Proposed Offering - The consent solicitations are conditioned upon the proposed offering of an additional $500.0 million aggregate principal amount of First Lien Senior Secured Notes due 2029 [4]. - Purchasers of the Additional First Lien Notes will be deemed to have consented to the proposed amendments to the First Lien Indenture [4]. Required Consents - To implement the proposed amendments to the First Lien Indenture, the Company must obtain consent from at least 60.0% of the outstanding principal amount of the First Lien Notes [4]. - For the Exchangeable Notes, the Company also requires at least 60.0% of the outstanding Capitalized Principal Amount for the proposed amendments [4]. Initial Consenting Holders - The Company has received non-binding indications of intent from certain holders, expected to deliver consents exceeding the required 60.0% for both the Exchangeable Notes and the First Lien Notes [5]. Consent Fees - The consent fee for the First Lien Notes is set at $11.25 per $1,000 principal amount, while the fee for the Exchangeable Notes is $17.50 per $1,000 principal amount [7].