Neff Enters New Credit Facility

Jan. 1, 2002
MIAMI Neff Corp. last month entered into a new revolving credit facility with a syndicate of lenders led by Fleet Capital to provide capital for its operations.

MIAMI — Neff Corp. last month entered into a new revolving credit facility with a syndicate of lenders led by Fleet Capital to provide capital for its operations. The new credit facility of $200 million replaces its existing one.

At press time Neff Corp., recently de-listed by the New York Stock Exchange, was trading at 65 cents via over-the-counter trading.

Miami-based Neff Rental is a division of Neff Corp., 41 percent owned by telecommunications network builder MasTec, and 24 percent owned by GE Capital. Primarily a Florida rental company until the late 1990s when it expanded to 17 states, Neff built a network through the southeast, south and southwest. It has 75 locations and is No. 8 on the RER 100.