Neff Rental to redeem 9 5/8% senior secured notes via new term loan

By Tali Rackner

Norfolk Va., May 6 - Neff Rental LLC plans to redeem its existing 9 5/8% senior secured notes with the proceeds from a new $525 million second-lien term loan facility, according to a company news release.

Proceeds will also be used to fund a distribution to shareholders and to pay fees and expenses associated with the transaction.

Neff is a Miami-based construction equipment rental company.

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