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Hertz’s Creditors Brace For Debt Restructuring Talks
October 8, 2026
Hertz Global’s lenders have started forming groups as they prepare for potential debt restructuring negotiations with the company. According to sources, a group of secured lenders has appointed Evercore and Gibson Dunn as advisers. Separately, another group that includes Canso Investment Counsel has hired Houlihan Lokey and Ropes & Gray. The development follows Hertz’s recent decision to engage PJT Partners to explore extending its debt maturities. Hertz has around $6bn of non-vehicle debt and another $12.7bn of vehicle-related borrowings. The company faces $2.7bn of loan maturities in 2028, followed by further repayments over the next two years. Despite reporting a revenue of $2.4bn (up 10% YoY) in 2Q2026 and a liquidity of $984mn, Hertz continues to face pressure from weak used-car prices, higher fuel costs and inflation. The company had previously filed for bankruptcy in 2020 and emerged from it in 2021.
Hertz’s 12.625% 2029s were trading at 70.3 cents on the dollar.
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-Ritish G
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