Hertz plans to issue a $400 million of bonds backed by fleet leases, according to a presale report issued by Moody's Investors Service.

The deal, Hertz Fleet Leases Funding LP Series 2014-1 will offer $355.6 million of class A1, floating-rate notes that are due April 2028. Moody’s Investors Service expects to rate the notes ‘Aaa’. Also offered are ‘Aa2’-rated, class B notes, ‘A2’-rated class C notes and ‘Baa2’-rated class D notes.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.