Hertz to Cut $6 Billion in Vehicle Debt by Year End, Lawyer Says – Yahoo Finance
(Bloomberg) — Hertz Global Holdings Inc. has struck a deal that will cut the debt it owes lenders who financed its rental car fleet to less than $5 billion from $11 billion by Dec. 31, the companys main bankruptcy lawyer said in court Friday.
Under an agreement with the lenders, Hertz has agreed to sell 182,000 cars over the next few months, Tom Lauria told U.S. Bankruptcy Judge Mary Walrath. The deal requires Hertz to make $650 million in lease payments. The reduction in the $11 billion in ve…
