Hertz secures new $4 billion commitment for fleet financing 

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Hertz Global Holdings Inc. announced Thursday that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of Estero-based Hertz entering into the documentation for the financing by the U.S. Bankruptcy Court for the District of Delaware. Upon approval, and together with the up to $1 billion of Hertz’s debtor-in-possession financing that may be used for equity in the fleet financing subsidiary, Hertz will have access to up to $5 billion in total funding to support its fleet financing needs, the company reports. Hertz plans to refresh its rental car fleet in 2021 and anticipates the purchase of nearly 230,000 vehicles with a newly-formed special purpose entity that will be a direct wholly-owned subsidiary of the Hertz Corp.  

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