United Rentals, Inc. (URI) announced on Thursday that its subsidiary, United Rentals' North America, Inc. or URNA, will privately offer $1.1 billion in Senior Notes due by 2034.
This sale is predicted to yield approximately $1.090 billion in net aggregate proceeds after deducting the relevant costs. URNA is proposing these notes specifically to certain institutional investors, adhering to specified securities laws. The company plans to utilize these funds, in conjunction with borrowings under its senior secured asset-based revolving credit facility, to finance the purchase of Yak Access, LLC, along with related costs and charges.
The obligations of these notes will be assured on a senior unsecured basis by both URI and select domestic subsidiaries of URNA.
