United Rentals prices $2.5 billion senior debt offering
URI•United Rentals priced a $2.5 billion senior notes offering through its North American subsidiary, with expected net proceeds of approximately $2.48 billion. The proceeds will repay the subsidiary’s senior secured term loan in full, with remaining funds for general corporate purposes, including reducing other borrowings.
1. Offering details
The offering includes $700 million of 5.55% Senior Notes due 2029, $800 million of 5.75% Senior Notes due 2031, and $1 billion of 6.2% Senior Notes due 2036. It is the subsidiary’s inaugural investment-grade debt issuance.
2. Use of proceeds
United Rentals expects net proceeds of approximately $2.48 billion. The company plans to use them to repay its senior secured term loan in full, with remaining funds for general corporate purposes, including reducing other borrowings.
