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SEARCHThe car rental company said proceeds from the asset-backed notes will be used to fund vehicle purchases and general purposes, as well as repay debt.
Hertz Global Holdings Inc. announced today that it intends to a make private offering of asset-backed notes to fund vehicle purchases and repay debt.
The car rental company said Hertz Vehicle Financing LLC, a special purpose limited liability company, plans to sell these notes - Series 2009-2 Rental Car Asset Backed Notes, Class B - to qualified institutional buyers.
The company said the notes may also be offered to investors outside the United States.
In addition to vehicle purchases and debt repayment, Hertz said proceeds from the offerings will be used for the company's general purposes.
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