United Rentals said it has given notice of its intention to redeem all of the outstanding 1 7/8-percent convertible senior subordinated notes due 2023 on Dec. 13. As of Sept. 30, there was about $5 million aggregate principal amount of the notes outstanding. The notes will be redeemed at a redemption price of 100 percent of the principal amount of the notes, plus accrued and unpaid interest.
The convertible notes are convertible at any time prior to the close of business Dec. 12 at the rate of 45.8160 shares of common stock per $1,000 principal amount.
United Rentals is No. 1 on the RER 100.
