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The Hertz Corporation · Bankruptcy · 2020

6.000% Senior Notes due 2028

The Hertz Corporation · ISIN US428040CZ02. 8 verified questions on this obligation.

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Verified outcome

EligibleIs the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.

Source clauses

First Supplemental Indenture of 2019-11-25

Currency
USD
Final maturity
2028-01-15
Seniority
Senior
Governing law
Article V
Form
Registered
Transferable
Yes (no contractual transfer restriction)
Coupon
6.000%

Questions and verified answers

  1. #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
    Eligible

    First Supplemental Indenture of 2019-11-25

  2. #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
    Yes

    First Supplemental Indenture of 2019-11-25

  3. #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
    Yes
  4. #4 Does the instrument meet the Not Subordinated characteristic?
    Yes

    First Supplemental Indenture of 2019-11-25

  5. #5 Does the instrument meet the Not Bearer characteristic?
    Yes
  6. #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
    Yes
    None: no clause making principal contingent was found.
  7. #7 Does the instrument meet the Transferable characteristic?
    Yes
    None: no clause restricting transfer was found.
  8. #8 Is the issuer of the instrument the Reference Entity?
    Yes

    First Supplemental Indenture of 2019-11-25

Documents

Terms come from these documents. Fields the record omits show as not stated.

  • DOC-1 Hertz Global Holdings / The Hertz Corporation 8-K filed 2020-05-26, Item 1.03 Bankruptcy, petition 2020-05-22excerpts
  • DOC-2 First Supplemental Indenture dated November 25, 2019, $900,000,000 6.000% Senior Notes due 2028 (EX-4.2)excerpts
  • DOC-3 Base Indenture dated November 25, 2019, The Hertz Corporation (EX-4.1)excerpts

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