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EV and battery thread, page-2299

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GCar

13,280 Posts.

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26/10/21

09:36

Post #: 57068960
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Originally posted by Stephan90: ↑

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

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Well, the market sure liked this news!!!

ps. thanks again Stephan90 for your ongoing effort to locate and share all the info and data that you do - I realise it is very time consuming. Much appreciated.
Cheers
GCar

Last edited by GCar: 26/10/21

ORE Price at posting: $9.19 Sentiment: Buy Disclosure: Held
18 Upvote

0 Great analysis

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