United Rentals, Inc. (NYSE: URI) (“URI”) today announced that its subsidiary, United Rentals (North America), Inc. (“URNA”), is offering $400 million principal amount of senior unsecured notes due 2023 in a registered public offering.
The notes offered by URNA will rank equally with all of its existing and future senior indebtedness, effectively junior to any of its existing and future secured indebtedness and senior in right of payment to any of its existing and future subordinated indebtedness. URNA’s obligations under these notes will be guaranteed on a senior basis by URI and certain of URNA’s domestic subsidiaries.
URNA intends to use the net proceeds from its offering and additional borrowings under its asset-based revolving credit facility to redeem its 10 7/ 8% Senior Notes due 2016 and to pay for a call premium and accrued but unpaid interest to the date of redemption of such notes and to pay related expenses.
BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, Barclays, Citigroup and Credit Suisse are the joint book-running managers for the offering, with BofA Merrill Lynch as lead book-running manager.This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplements or the shelf registration statement or prospectus. URI has filed a registration statement (including a prospectus and a related preliminary prospectus supplement) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement and prospectus in that registration statement and other documents URI has filed with the SEC for more complete information about URI and this offering. You may get these documents for free by visiting EDGAR on the SEC’s website at http://www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained by contacting BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 11th Floor, New York, NY 10038, 800-294-1322 or email: firstname.lastname@example.org. About United Rentals United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 848 rental locations in 48 states and 10 Canadian provinces. The company’s approximately 11,200 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers for rent approximately 3,400 classes of equipment with a total original cost of $7.40 billion. United Rentals is a member of the Standard & Poor’s MidCap 400 Index and the Russell 2000 Index® and is headquartered in Greenwich, Conn.
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