United Rentals, Inc. announced a private offering of $1.5 billion principal amount of Senior Notes due 2033 by its subsidiary, United Rentals (North America), Inc.
The net proceeds from the offering are expected to be approximately $1.486 billion after expenses, with plans to redeem outstanding 5½% Senior Notes due 2027 and for general corporate purposes.
The offering is made under exemptions from the Securities Act of 1933, with the Notes not being registered under the Securities Act or state securities laws.
Private Offering Announcement
United Rentals' subsidiary, URNA, is proposing a private offering of $1.5 billion Senior Notes due 2033.
Net Proceeds Allocation
Approximately $1.486 billion in net proceeds will be used for redemptions and general corporate purposes.
Securities Act Exemptions
The offering is conducted under exemptions from the Securities Act of 1933, limiting the sale within the United States.
- The proposed offering of Senior Notes demonstrates United Rentals' strategic financial planning for debt management and capital structure.
- By redeeming existing Senior Notes and utilizing the net proceeds for corporate purposes, United Rentals aims to optimize its financial position and reduce borrowing costs.
United Rentals' announcement of a private offering reflects the company's proactive approach to capital management and strategic financial decision-making amidst evolving market conditions.