Investing.com -- Hertz Global Holdings (OTC: HTZGQ ) Inc. is consulting with advisers to explore options for its capital structure as it engages in a legal dispute with some bondholders, according to Bloomberg, citing individuals knowledgeable about the situation.
The rental-car company has enlisted the assistance of boutique investment bank Ducera Partners and law firm Davis Polk & Wardwell, said the sources, who requested anonymity due to the confidential nature of the matter.
Earlier this year, Hertz began negotiations to resolve litigation related to a make-whole payout exceeding $300 million. A federal appeals court ruled that this sum was owed to bondholders from the company’s 2020 bankruptcy. The specifics of the ongoing negotiations have not been disclosed.
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