Bankrupt Hertz Global Holdings Inc. (HTZ) 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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(END) Dow Jones Newswires
June 18, 2020 14:48 ET (18:48 GMT)
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