United Rentals (North America), a subsidiary of equipment rental company United Rentals, priced an offering of $1.1 billion principal amount of 6.125% senior notes due 2034 in a private offering.
United Rentals (North America)’s obligations under the notes will be guaranteed on a senior unsecured basis by United Rentals and certain of United Rentals (North America)’s domestic subsidiaries.
Aggregate net proceeds from the sale of the notes are expected to be approximately $1.09 billion after initial purchasers’ discounts and commissions and payments of estimated fees and expenses. United Rentals (North America) expects to use the net proceeds from its offering of the notes, together with borrowings under its senior secured asset-based revolving credit facility, to finance the acquisition of Yak Access and to pay related fees and expenses.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!