United Rentals' Subsidiary Announces Private Offering Of $1.1 Bln Of Senior Notes Due 2034

(RTTNews) - United Rentals, Inc. (URI) announced on Thursday that its subsidiary, United Rentals' North America, Inc. also known as URNA, is offering $1.1 billion in Senior Notes due 2034 in a private offering.

The sale of the Notes is expected to generate aggregate net proceeds of around $1.090 billion after accounting for the expenses.

URNA plans to offer these notes exclusively to certain institutional buyers in compliance with specific securities regulations, as it intends to use these net proceeds, along with borrowings under URNA's senior secured asset-based revolving credit facility, to fund the acquisition of Yak Access, LLC, and cover associated fees and expenses.

The Notes' obligations will be guaranteed on a senior unsecured basis by URI and certain of URNA's domestic subsidiaries.