United Rentals Announces Launch of Syndication of $1 Billion Secured Term Loan B
September 28 2018 - 1:07PM
Business Wire
United Rentals, Inc. (“United Rentals”, NYSE:URI) today
announced that its subsidiary, United Rentals (North America), Inc.
(“URNA”) launched syndication of a $1 billion senior secured term
loan B credit facility (the “Term Loan B”), which will be
guaranteed by United Rentals and certain subsidiaries of URNA and
secured by the same collateral as URNA’s existing senior secured
asset-based revolving credit facility. The Term Loan B is expected
to mature in October 2025; however, the terms and conditions and
closing of the Term Loan B will depend on market and other
conditions.
URNA intends to apply the proceeds of the Term Loan B to pay, in
part, the purchase price with respect to the BlueLine Rental
acquisition from Platinum Equity.
Bank of America Merrill Lynch will act as agent for the
syndicated lenders and as joint lead arranger with Wells Fargo
Securities, LLC and other potential arrangers.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995, known as the PSLRA. Forward-looking statements involve
significant risks and uncertainties that may cause actual results
to differ materially from those set forth in the statements. These
statements are based on current plans, estimates and projections,
and, therefore, you should not place undue reliance on them. No
forward-looking statement can be guaranteed, and actual results may
differ materially from those projected. United Rentals undertakes
no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or otherwise.
Forward-looking statements are not historical facts, but rather are
based on current expectations, estimates, assumptions and
projections about the business and future financial results of the
equipment rental industries, and other legal, regulatory and
economic developments. We use words such as “anticipates,”
“believes,” “plans,” “expects,” “projects,” “future,” “intends,”
“may,” “will,” “should,” “could,” “estimates,” “predicts,”
“potential,” “continue,” “guidance,” and similar expressions to
identify these forward-looking statements that are intended to be
covered by the safe harbor provisions of the PSLRA. United Rentals
gives no assurance that it will achieve its expectations and does
not assume any responsibility for the accuracy and completeness of
the forward-looking statements.
You should carefully consider risks and uncertainties that
affect the businesses of United Rentals described in the “Risk
Factors” section of the Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and other documents filed from time to time
with the SEC. All forward-looking statements included in this
document are based upon information available to United Rentals on
the date hereof; and United Rentals assumes no obligations to
update or revise any such forward-looking statements.
About United Rentals
United Rentals is the largest equipment rental company in the
world. As of August 31, 2018, the company had an integrated network
of 1,074 rental locations in North America and 11 in Europe, with
approximately 16,600 employees serving construction and industrial
customers, utilities, municipalities, homeowners and others. The
company offers approximately 3,800 classes of equipment for rent
with a total original cost of $12.8 billion. United Rentals is a
member of the Standard & Poor’s 500 Index, the Barron’s 400
Index and the Russell 3000 Index® and is headquartered in Stamford,
Conn. Additional information about United Rentals is available at
unitedrentals.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180928005496/en/
United Rentals, Inc.Ted Grace(203) 618-7122Cell: (203)
399-8951tgrace@ur.com
United Rentals (NYSE:URI)
Historical Stock Chart
From Jun 2024 to Jul 2024
United Rentals (NYSE:URI)
Historical Stock Chart
From Jul 2023 to Jul 2024