Pultegroup Inc
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Consumer Discretionary : Household Durables | Mid Cap Blend
Company profile

PulteGroup, Inc. is a homebuilder in the United States. The Company's segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land. Its Financial Services operations consist principally of mortgage banking and title operations. The Company conducts its financial services business, through Pulte Mortgage LLC (Pulte Mortgage) and other subsidiaries. Pulte Mortgage arranges financing through the origination of mortgage loans. The Company's subsidiaries are engaged in the homebuilding business. It offers a product line to meet the needs of homebuyers in its focused markets. Through its brands, which include Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods, the Company offers a range of home designs, including single-family detached, townhouses, condominiums and duplexes.

Price
Delayed
$42.86
Day's Change
-2.38 (-5.26%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.27
Day's Low
42.07
Volume
(Heavy Day)

Today's volume of 4,377,895 shares is on pace to be much greater than PHM's 10-day average volume of 2,504,498 shares.

4,377,895

Hertz Global Holdings Secures Commitments Of $1.65 Billion In Debtor-In-Possession Financing

7:07 am ET October 16, 2020 (PR Newswire) Print

Hertz Global Holdings, Inc. (NYSE: HTZ) today announced that it has secured commitments for debtor-in-possession ("DIP") financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware.

Hertz President and CEO Paul Stone said, "This new financing will provide additional financial flexibility as we continue to navigate the pandemic's effects on the travel industry and take steps to best position our business for the future. We are pleased with the strong interest from our pre-petition first-lien lenders and appreciate their support of Hertz and our future opportunities as a rental car leader."

The proposed DIP financing will support the Company as it moves through its next stage of its Chapter 11 process. The financing is to be provided by certain of the Company's pre-petition first-lien lenders and is expected to be structured as a delayed draw term loan debtor facility. Up to $1 billion can be used to provide equity for vehicle acquisition in the U.S. and Canada. Up to $800 million can be used for working capital and general corporate purposes. The financing is subject to finalization of definitive documentation, Court approval and other customary conditions, and a hearing is scheduled for October 29, 2020.

Moelis & Co. is serving as investment banker, FTI Consulting is serving as Hertz's financial advisor and White & Case LLP is serving as Hertz's legal advisor.

Additional information about the DIP financing and Court filings are available on https://restructuring.primeclerk.com/hertz.

About HertzThe Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin American, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

https://c212.net/c/img/favicon.png?sn=NY60641&sd=2020-10-16

View original content:http://www.prnewswire.com/news-releases/hertz-global-holdings-secures-commitments-of-1-65-billion-in-debtor-in-possession-financing-301153949.html

SOURCE Hertz Global Holdings, Inc.

https://rt.prnewswire.com/rt.gif?NewsItemId=NY60641&Transmission_Id=202010160707PR_NEWS_USPR_____NY60641&DateId=20201016

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