| Hertz Corporation, The | |||
| Ticker: | HRZ | 225 Brae Boulevard | |
| Exchange: | New York Stock Exchange | Park Ridge, NJ 07656 | |
| Industry: | Service (SIC Code 7514) | (201) 307-2000 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 2/28/97 | |
| U.S. Shares: | 20,010,000 | Offer Date: | 4/24/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $21.00 - $24.00 | |
| Primary Shares: | 20,010,000 | Offer Price: | $24.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.26 | |
| Offering Amount: | $450,225,000 | Selling: | $0.76 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - | |||
| Spin out parent firm: | Ford Motor Company | |||
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Simpson, Thacher & Bartlett |
| Bank's Law Firm: | Shearman & Sterling |
| Auditor: | Coopers & Lybrand |
| Registrar/Transfer Agent: | First Chicago Trust Company of NY |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $3,668.30 | Assets: | $7,649.20 | ||
| Net Income: | $158.60 | Curr Assets: | |||
| EPS: | Liabilities: | $6,659.80 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$624.16 | Equity: | $989.40 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company and its affiliates and independent licensees operate what the company believes is the largest car rental business in the world based upon revenues and volume of rental transactions. The company's "Hertz" brand name is recognized worldwide as a leader in quality rental and leasing services and products. The company, together with its affiliates and independent licensees, rents and leases cars, rents industrial and construction equipment and operates its other businesses from approximately 5,500 locations throughout the United States and in approximately 140 foreign countries and jurisdictions. For the year ended December 31, 1996, the company $265.5 million and $158.6 million, respectively. The company and its predecessors have been profitable in every year since 1952, when one of the company's predecessors first became a public company. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to reduce short-term indebtedness of the company. |