Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced that its wholly-owned indirect subsidiary, The Hertz Corporation, has completed an offering of $350 million in aggregate principal amount of 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030.

The initial purchasers have the option to buy up to an additional $50 million in aggregate principal amount of the notes within 13 calendar days from the date the notes were first issued.

"As we continue to transform and grow Hertz, this offering enhances our financial flexibility heading into our peak season," said Scott Haralson, Chief Financial Officer at Hertz. "We are pleased with the investor interest in the offering, which reflects confidence in our strategy and our ability to execute. We remain focused on disciplined capital management and further strengthening of our balance sheet."

The company said the completed offering enhances its liquidity and provides greater financial flexibility. Hertz operates more than 11,000 rental locations in 160 countries under the Hertz, Dollar, Thrifty, and Firefly brands.