United Rentals North America Unit Launches $1.5 Bln Private Notes Offering

(RTTNews) - United Rentals, Inc. (URI), on Monday, said its subsidiary in North America or United Rentals North America URNA is offering $1.5 billion in Senior Notes due 2033 in a private placement.

The notes will be guaranteed on a senior unsecured basis by United Rentals and certain URNA domestic subsidiaries.

The company said that its net proceeds are expected to total about $1.486 billion after discounts, commissions and estimated fees.

The URNA plans to use the proceeds to redeem its outstanding $500 million 5.5% Senior Notes due 2027 and for general corporate purposes, including reducing borrowings under its senior secured asset-based revolving credit facility.

In the pre-market trading, United Rentals is 0.15% higher at $801.21 on the New York Stock Exchange.