Hertz, the US car rental company, yesterday launched the second-largest junk bond of the year with a $2.8bn (€2.3bn) deal to help finance the $15bn buyout by Clayton Dubilier & Rice, the Carlyle Group and the private equity arm of Merrill Lynch.

The deal included tranches in dollars and euros, and attracted strong demand.

Vivek Ahuja

Carlyle Group

JP Morgan

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Investors rush to Hertz bond

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