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. On September 1, 2020, the Company, the Receivables
Subsidiary, CACIB and the Lenders entered into a First Amendment to the RFA, as
previously disclosed.
On August 31, 2021, the Company, the Receivables Subsidiary, CACIB and the
Lenders entered into a Second Amendment (the "Second Amendment") to the RFA. The
Second Amendment, among other things, amends the commitment and unallocated
allocation to provide greater borrowing availability, extends the maturity date
of the RFA until August 31, 2022 and makes certain changes in anticipation of
the transition from LIBOR as a benchmark rate.
The foregoing description of the Second Amendment does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Second 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. 2 to Receivables Financing Agreement
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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