Simpson Thacher represented Herc Holdings Inc. (“Herc”) in connection with a Rule 144A/Regulation S offering of $600 million aggregate principal amount of 5.750% Senior Notes due 2031 and $600 million aggregate principal amount of 6.000% Senior Notes due 2034. The notes offering closed on December 16, 2025.
Herc used the net proceeds of the notes, together with certain other borrowings, to redeem all $1,200 million in aggregate principal amount of its 5.50% Senior Notes due 2027 and to pay related fees and expenses.
In addition, Simpson Thacher represented Herc in connection with an amendment to its existing senior secured term loan credit facility that repriced approximately $750 million of its existing term loans and which closed on December 10, 2025.
Herc, which operates through its Herc Rentals Inc. subsidiary, is a full-line rental supplier and, with the recent acquisition of H&E Equipment Services, has 612 locations across North America and 2024 pro forma total revenues were approximately $5.1 billion. Herc offers products and services aimed at helping customers work more efficiently, effectively, and safely.
The Simpson Thacher team included Joshua Bonnie, Katharine Thompson, Jonathan Ozner, Aarthy Thamodaran, Nate Yang and Amy Donofrio (Capital Markets); Katherine Reaves, Dennis Durkin and Sally Jo (Banking and Credit); Benjamin Rippeon and Michael Mann (Tax); Caroline Geiger, Courtney Welshimer, Dewey Kang and Paige Brinton (IP); and Jeannine McSweeney and Joshua Stephens (ECEB).