RSC Equipment Rental, the operating subsidiary of RSC Holdings last week said it priced an offering of $200 million aggregate principal amount of 10.25 senior unsecured notes due 2019. The senior notes are being co-issued with RSC Equipment Rental’s parent RSC Holdings III, LLC.
Net proceeds from the sale of the senior notes, after initial purchasers’ discount and fees and expenses will be about $192.1 million. The notes will be sold to qualified institutional buyers and the offering will close Nov. 17, subject to customary closing conditions.
The company plans to use the full amount of the net proceeds from the offering to prepay borrowings outstanding under its senior secured second-lien term loan facility.
Based in Scottsdale, Ariz., RSC Equipment Rental is No. 2 on the RER 100.