(Bloomberg) — Hertz Global Holdings Inc. has been working with advisers on options for its capital structure while it fights a legal battle with some bondholders, according to people familiar with the matter.
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Boutique investment bank Ducera Partners and law firm Davis Polk & Wardwell have been helping the rental-car company, said the people, who asked not to be named discussing a confidential matter.
Representatives for Hertz and Ducera declined to comment, while Davis Polk didn’t immediately respond to requests for comment.
Hertz started negotiations earlier this year to settle litigation surrounding a make-whole payout of over $300 million that a federal appeals court said bondholders from the company’s 2020 bankruptcy were due.
The firm has more than $6 billion of total debt, according to data compiled by Bloomberg, including a $500 million junk bond sold in December to repay borrowings.
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