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Vital role for private sector in financing climate resilience

2 mins read

The FINANCIAL — The warning could hardly have been starker: “Climate change is widespread, rapid, and intensifying, and some trends are now irreversible”, the Intergovernmental Panel on Climate Change (IPCC) said in its latest report published in August. It was a stark reminder that action is not only inevitable, but also urgent.…

Bankrupt car rental company Hertz secures $1.65 bln DIP financing

1 min read

The FINANCIAL — 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…