United Rentals’ subsidiary, United Rentals North America, intends to redeem all of the outstanding $1 billion principal amount of its 5.875% senior notes due 2026 on Sept. 15. The notes will be redeemed at a redemption price of 102.938% of the principal amount of the notes plus accrued and unpaid interest to, but excluding, the redemption date.

United Rentals North America instructed Wells Fargo Bank as the trustee for the notes to distribute a notice of redemption to all registered holders of the notes on Aug. 13. United Rentals North America expects to use borrowings under its senior secured asset-based revolving credit facility to redeem the notes and to pay related expenses.

The redemption is subject to, and conditioned upon, sufficient funds being available to be drawn by United Rentals North America under its senior secured asset-based revolving credit facility at the time United Rentals North America is required to deposit the redemption price with the trustee to fund the payment of the redemption price and such funds being disbursed when requested by United Rentals North America. The redemption date may be delayed until such time as the conditions precedent shall be satisfied. In the event that such conditions precedent are not so satisfied by the redemption date, or by the redemption date as so delayed, United Rentals North America will notify the trustee, and upon any such notice to the trustee, the notice of redemption will be of no force or effect for any purpose.

United Rentals is an equipment rental company with an integrated network of 1,275 rental locations in North America, 11 in Europe, 28 in Australia and 18 in New Zealand.