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Herc Rentals to redeem 7½% notes due 2022, 7¾% notes due 2024
By Marisa Wong
Morgantown, W.Va., June 25 – Herc Holdings Inc. said subsidiary Herc Rentals Inc. will redeem all $427 million of its 7½% senior secured second priority notes due 2022 and all $437.5 million of its 7¾% senior secured second priority notes due 2024 on July 9.
The 2022 notes will be redeemed at 103.75, and the 2024 notes will be redeemed at 105.813 plus, in each case, accrued interest to the redemption date.
Wilmington Trust, NA is the trustee.
The company expects to fund the redemption using proceeds from its offering of 5½% senior notes due 2027, which is expected to close on July 9.
Herc is an equipment rental supplier based in Bonita Springs, Fla.
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