Hertz Global Holdings Inc. is on the hunt for a bankruptcy loan totaling as much as $1.5 billion after regulators blocked the rental car company from pursuing a sale of what likely would be worthless stock, according to people familiar with the matter.
Hertz this week reached out to existing creditors, as well as potential outside investors, for a debtor-in-possession loan sized at $1.1 billion to $1.5 billion, the people said. Hertz didn’t respond to requests for comment. Read more…..
Chart of the Day
Former Chase Chief Economist Anthony Chan provides insight into economic and market recovery in the coronavirus era and how the election will impact them.