RSC Equipment Rental Inc. and RSC Holdings III LLC announced this week that they are offering to exchange $200 million in aggregate principal amount of their 10 ¼ percent senior notes due 2019, for equal principal amounts of their outstanding old notes. As of June 28, there were $200 million aggregate principal amount of old notes outstanding.
The terms of the new notes will be substantially identical to that of the old notes, except that the transfer restrictions and registration rights relating to the old notes will not apply to the new notes. The terms and conditions of the exchange offer are set forth in RSC Equipment Rental’s and RSC Holdings LLC’s prospectus dated June 28, and the related letter of transmittal.
RSC will accept for exchange old notes validly tendered and not validly withdrawn on or before July 27, which is the expiration date of the exchange offer, unless RSC Equipment Rental and RSC Holdings extend the offer.
The exchange offer is only being made pursuant to a prospectus and letter of transmittal that have been filed with the Securities and Exchange Commission on Form S-4.
Based in Scottsdale, Ariz., RSC is No. 2 on the RER 100.