Apparently car rental company Hertz, which emerged from bankruptcy, wants to buy 100,000 Tesla cars for a total of 4.2 billion USD. Tesla stock jumps, so the news seems legit. But I wonder
"The Company emerged from Chapter 11 with significantly lower non-vehicle debt levels relative to its pre-Chapter 11 balance sheet. At June 30, 2021 the Company had $1.5 billion in outstanding non-vehicle debt, comprised of a $1.3 billion Term B Loan and a $245 million Term C Loan that will support the issuance of letters of credit. In addition, the Company has a $1.3 billion first lien revolving credit facility ("First Lien RCF"). At June 30, 2021, the Company had $70 million of letters of credit deemed issued and no borrowings outstanding under the First Lien RCF. The Company has no material non-vehicle debt maturities until 2026.
The Company's liquidity position totaled $3.0 billion at June 30, 2021, comprised of $1.8 billion in unrestricted cash and $1.2 billion of availability under the First Lien RCF. "
Hertz Global Holdings Reports Strong Second Quarter 2021 Financial Results - Aug 9, 2021news also reported by Bloomberg
Hertz Orders 100,000 Teslas, TSLA Stock Soars - Bloomberg
