United Rentals Prices Senior Subordinated Notes Offering
October 29 2003 - 7:30AM
PR Newswire (US)
United Rentals Prices Senior Subordinated Notes Offering GREENWICH,
Conn., Oct. 29 /PRNewswire-FirstCall/ -- United Rentals, Inc.
announced today that it priced its previously announced offering of
senior subordinated notes. The size of the offering was increased
to $525 million from the previously announced $450 million. The
notes will bear interest at 7.75% and be due in 2013. The company
expects to use approximately $424 million of the offering net
proceeds to redeem $205 million face amount of outstanding 8.80%
Senior Subordinated Notes due 2008 and $200 million face amount of
outstanding 91/2% Senior Subordinated Notes due 2008. The balance
will be used to buy out existing equipment leases and/or for
general corporate purposes. Completion of this offering is
conditioned on the company obtaining an amendment to its senior
credit facility allowing the planned redemption of outstanding
notes. The offering will be made in a transaction exempt from the
registration requirements of the Securities Act of 1933. The notes
offered have not been, and will not be, registered under the
Securities Act of 1933. Accordingly, the notes may not be offered
or sold in the United States absent registration under the
Securities Act of 1933 or an applicable exemption from the
registration requirements. Certain statements contained in this
press release are forward-looking in nature. These statements can
be identified by the use of forward-looking terminology such as
"contemplates," "expects," "will," or "anticipate" or the negative
thereof or comparable terminology, or by discussions of strategy.
Actual results and events may differ from those forecast. The
offering has not yet been completed and completion is subject to
customary closing conditions and the additional condition described
above. Furthermore, the expected use of proceeds may change based
upon the changing needs of the company. The Company makes no
commitment to revise or update any forward-looking statements in
order to reflect events or circumstances after the date any such
statement is made, except to the extent required by law.
DATASOURCE: United Rentals, Inc. CONTACT: Fred Bratman, Vice
President, Corporate Communications of United Rentals, Inc.,
+1-203-618-7323, or Web site: http://www.unitedrentals.com/
Copyright
United Rentals (NYSE:URI)
Historical Stock Chart
From Jun 2024 to Jul 2024
United Rentals (NYSE:URI)
Historical Stock Chart
From Jul 2023 to Jul 2024