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Hertz seeking bankruptcy loan after stock sale fizzled: WSJ

Bankrupt Hertz Global Holdings Inc.
HTZ,
-10.00%

is looking for a bankruptcy loan to fund its restructuring after the car-rental company suspended a controversial stock sale, The Wall Street Journal reported Thursday, citing people familiar with the matter. Hertz shares are halted Thursday for news. The company on Wednesday shelved plans for a potentially worthless stock offering after drawing scrutiny from regulators. Hertz is in discussions with top lenders for a loan that could approach $1 billion, the newspaper said. The company filed for bankruptcy on May 22, with nearly $20 billion in debt and hit by travel restrictions designed to slow the spread of the coronavirus.

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