Herc Holdings (HRI) boosts receivables borrowing capacity and extends facility to 2026

Rhea-AI Filing Summary

Herc Holdings Inc., through its subsidiary Herc Rentals Inc., updated its receivables-based financing facility. On August 29, 2025, the company, its receivables subsidiary, Credit Agricole Corporate and Investment Bank, and a group of lenders entered into a Sixth Amendment to their existing receivables financing agreement. This amendment increases borrowing availability under the facility and extends its maturity to August 31, 2026, helping the company maintain access to financing backed by customer receivables. The loans remain secured by liens on the receivables and other assets of the special purpose receivables subsidiary.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 29, 2025

HERC HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware

001-33139

20-3530539

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S Employer Identification No.)

27500 Riverview Center Blvd.

Bonita Springs, Florida 34134

(Address of principal executive offices and zip code)

(239) 301-1000

(Registrant's telephone number,

including area code)

N/A

(Former name or former address, if

changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of exchange on which registered

Common Stock, par value $0.01 per share

HRI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

As previously disclosed, on September 17, 2018, Herc Rentals Inc. (together with its subsidiaries, the “Company”), as the servicer and performance guarantor, entered into a receivables financing agreement (as amended, the “RFA”), with Herc Receivables U.S. LLC, a special purpose vehicle wholly-owned by the Company (the “Receivables Subsidiary”), the lenders from time to time party thereto (the “Lenders”), and Credit Agricole Corporate and Investment Bank (“CACIB”), as Administrative Agent, pursuant to which the Receivables Subsidiary may (from time to time and subject to the conditions therein) borrow from the Lenders. Loans under the RFA are secured by liens on the receivables and other assets of the Receivables Subsidiary. As previously disclosed, the Company, the Receivables Subsidiary, CACIB and the Lenders have amended the RFA annually since 2020.

On August 29, 2025, the Company, the Receivables Subsidiary, CACIB and the Lenders entered into a Sixth Amendment (the “Sixth Amendment”) to the RFA. The Sixth Amendment, among other things, amends the commitment and unallocated allocation to provide greater borrowing availability, and extends the maturity date of the RFA until August 31, 2026.

The foregoing description of the Sixth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Sixth Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit Number						Description
10.1						Amendment No. 6 to Receivables Financing Agreement
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			HERC HOLDINGS INC.
			(Registrant)
			By:			/s/ S. WADE SHEEK
			Name:			S. Wade Sheek
			Title:			Senior Vice President, Chief Legal Officer and Secretary

Date:  September 4, 2025

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FAQ

What did Herc Holdings (HRI) change in its receivables financing agreement?

Herc Holdings, through Herc Rentals Inc. and its receivables subsidiary, entered into a Sixth Amendment to its receivables financing agreement. The amendment increases borrowing availability and updates certain commitment and allocation terms while keeping loans secured by receivables and related assets.

How does the Sixth Amendment affect Herc Holdings' borrowing capacity?

The Sixth Amendment amends the commitment and unallocated allocation under the receivables financing agreement to provide greater borrowing availability to the company under its receivables-backed facility.

What is the new maturity date of Herc Holdings' receivables financing agreement?

The Sixth Amendment extends the maturity date of the receivables financing agreement until August 31, 2026, lengthening the term of this secured borrowing arrangement.

Who are the key parties to Herc Holdings' amended receivables facility?

The key parties are Herc Rentals Inc. (as servicer and performance guarantor), Herc Receivables U.S. LLC (the special purpose receivables subsidiary and borrower), the lenders party to the agreement, and Credit Agricole Corporate and Investment Bank as administrative agent.

How are loans under Herc Holdings' receivables facility secured?

Loans under the receivables financing agreement are secured by liens on the receivables and other assets of Herc Receivables U.S. LLC, the company’s special purpose receivables subsidiary.

Where can investors find the full text of Herc Holdings' Sixth Amendment?

The full text of Amendment No. 6 to the Receivables Financing Agreement is filed as Exhibit 10.1 and is incorporated by reference in the company’s report.