Hertz to sell $1.2bn in debt to finance Dollar Thrifty acquisition

Hertz to sell $1.2bn in debt to finance Dollar Thrifty acquisition

Hertz Global Holding has said it will attempt to sell $1.2 billion in debt to fund its pending acquisition of Dollar Thrifty Automotive Group.

Hertz will try to sell $600 million in debt due 2020 and another $600 million due 2022, the company said in a statement earlier.

The car giant had $12.5 billion in debt as of June 30th.

Hertz will pay $2.3 billion for Dollar Thrifty after agreeing a deal in August.