RSC extends maturity of 75% of ABL revolving facility to August 2013

By Jennifer Chiou

New York, July 30 - RSC Holdings Inc. announced it has entered into an amendment agreement with its lender group that extends the maturity of 75% of its senior secured asset backed revolving credit facility to August 2013 from November 2011.

The amendment also reduces the total commitments under the ABL revolving facility to $1.1 billion.

In connection with the amendment, RSC added that:

• Interest rates related to the extended portion of the ABL revolving facility increase;

• Commitment fees for unused borrowing availability under the extended portion of the facility increase; and

• The borrowing availability threshold below which financial covenants apply under the ABL credit agreement decreases.

RSC is a Scottsdale, Ariz.-based renter of various construction and industrial equipment.

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