United Rentals Launches $1 Billion Senior Secured Term Loan

United Rentals has launched syndication of a $1 billion senior secured term loan B credit facility, which will be guaranteed by United Rentals and certain subsidiaries of United Rentals North America; and secured by the same collateral as URNA’s existing senior secured asset-based revolving credit facility.
Sept. 28, 2018

United Rentals has launched syndication of a $1 billion senior secured term loan B credit facility, which will be guaranteed by United Rentals and certain subsidiaries of United Rentals North America; and secured by the same collateral as URNA’s existing senior secured asset-based revolving credit facility. United Rentals intends to apply the proceeds of Term Loan B to pay, in part, the purchase price of BlueLine Rental from Platinum Equity.

The Term Loan B is expected to mature in Oct. 2025. However the terms and conditions and closing of the Term Loan B will depend on market and other conditions.

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.

United Rentals, based in Stamford, Conn., announced earlier this month that is has reached agreement to acquire Woodlands, Texas-based BlueLine Rental for $2.1 billion.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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