This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United Rentals Announces Partial Redemption Of Convertible Quarterly Income Preferred Securities And Convertible Subordinated Debentures

United Rentals, Inc. (NYSE: URI) today announced that its subsidiary (the “Trust”) has given notice of its intention to redeem up to $9,000,000 aggregate liquidation preference of its outstanding 6 ½% Convertible Quarterly Income Preferred Securities due August 1, 2028 (CUSIP Nos. 91136H306 and 91136H207) (the “Preferred Securities”) on March 1, 2013. The Trust will redeem the Preferred Securities with proceeds from the redemption by URI of up to $9,000,000 principal amount of its outstanding 6½% Convertible Subordinated Debentures due August 1, 2028 (the “Debentures”). URI has also given notice of its intention to redeem up to $9,000,000 principal amount of the Debentures on March 1, 2013. The Preferred Securities will be redeemed at a redemption price equal to 100% of the principal amount of the Preferred Securities redeemed, plus accrued and unpaid distributions to but excluding the redemption date.

The Preferred Securities to be redeemed are convertible at any time prior to the close of business on February 27, 2013 into a portion of the Debentures, which will immediately be converted at a conversion rate of 1.2188 shares of common stock for each $50 in aggregate principal amount of Debentures (equal to a conversion price of $41.0224 per share of Common Stock).

Because not all outstanding Preferred Securities are being redeemed, the Preferred Securities to be redeemed will be selected by the trustee for the Preferred Securities in accordance with the requirements of the indenture governing the Preferred Securities.

The Bank of New York Mellon, the trustee for the Preferred Securities, is distributing a Notice of Redemption to all registered holders of the Preferred Securities on January 29, 2013. Copies of such Notice of Redemption and additional information relating to the procedure for redemption and/or conversion of the Preferred Securities may be obtained from The Bank of New York Mellon Bondholder Relations by calling 1-800-254-2826.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs