Rental Services talks $620 million eight-year notes at 9¾% area

By Paul A. Harris

St. Louis, Nov. 15 - Rental Services Corp. talked its $620 million offering of eight-year senior notes (Caa1/B-) at the 9¾% area on Wednesday, according to a market source.

Books are scheduled to close at 4 p.m. ET on Thursday, with pricing expected on Friday morning.

Deutsche Bank Securities and Citigroup are joint bookrunners. GE Capital is a co-manager.

The notes will come with four years of call protection.

Proceeds will be used to fund the acquisition of the company by Ripplewood Holdings and Oak Hill Capital Management.

Rental Services is the second-largest equipment rental company in North America.

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