Hertz Global Holding will try 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 Monday. Hertz had $12.5 billion in debt as of June 30.
Hertz would use all of the proceeds toward its $2.6 billion acquisition of Dollar Thrifty, which was announced in August.
The acquisition would boost Hertz’s share of the U.S. car rental market to 26% from about 19%, according to Auto Rental News. Follow Danny King on Twitter @dktravelweekly.